Free Insurance Quote: Electing To Pay Your Premiums On A Monthly Basis Leads To More Expensive Premiums
You will get a cheaper free insurance quote if you elect to pay your premiums yearly and not every month. This is because sending you 12 bills by mail monthly costs your insurance company much.
If you add to the fact that each check you make out is seen as a transaction by their bankers, you will see that they still pay some more on transaction fees for each check you pay in. They pay transaction charges 12 times instead of once anually for monthly premiums. And, believe it or not, these additional overheads are eventually added to your rates.
You will get considerable savings if you begin to pay annually. What you’ll save could be as much as 8.5% of your total monthly premiums over the course of just a year.
