Paying monthly for insurance

[jesus]

Does anyone on here do this? Is it alright? Are there any underlying charges etc.? I have a quote for a year which is probably the best I'm going to get, still ridiculous though. If I choose to pay monthly the 'total amount payable' is only about 60 quid more than annual, meaning I won't have to be borrowing money all the time.

Basically my question is: Is 'total amount payable' actually the total amount you pay?

(This is with Liverpool Victoria if that makes any difference).

Cheers in advance.

 

[DanFreemanPhoto]

They should state it.
Im paying monthly as I didnt want a big chunk to go out my account, and it works out the same each month ie. I dont pay anything more for paying monthly.

 

[Jon.G]

I would assume the total amount payable would be the total amount payable

Read the t's and c's to make sure or ring them up.

Your tried tescos insurance? Pretty cheap imo.

 

[-Leigh-]

usually more cost effective to shove it on a 0% credit card and pay it monthly if you can.

 

[jesus]

I've tried bleedin' everyone! Might give Tesco a final go before getting this, though it's hard to find anyone who'll cover a 19yr old with 0ncb on a modified car

Cheers for the help, I know it might be an obvious question but just wanted confirmation/experience/advice

 

[Will.]

Admiral! they are good for 19yr olds. Im taking a new policy out with them next month. 700 for me 19y/o with alloys and if i lower it, induction kit and zorst it will go up to 800. Put named drivers on such as parents and it drops it down alot!

 

[Paddy_g46]

yep add your mum to your policy and it should knock off a few £hundred

 

[theduck]

most insurance companies charge stupid aprs, typically in excess of 25% apr meaning its cheaper to put it all on a credit card, even an interest bearing one.

 

[Reyes]

Interest can be mental mate.

 

[jesus]

Interest is 16.5%. Annual is only £60 less than 'total amount payable' for monthly, that's why I was suspicious!

I've tried every single insurance company I can think of, even the less well known ones. Admiral quoted me £2700 with both parents on the policy (dad has 24yrs no claims) and high excess etc., all the usual. It's so high because of my postcode despite me living in a nice area

 

[Da]

I pay monthly but purely because the insurance company had a 0% APR offer on when I renewed.

 

[Jon.G]

I've tried bleedin' everyone! Might give Tesco a final go before getting this, though it's hard to find anyone who'll cover a 19yr old with 0ncb on a modified car

Cheers for the help, I know it might be an obvious question but just wanted confirmation/experience/advice

Just got my renewal from tesco for £1800, Had a 'knock' with someone in december thus loosing my ncb and having a claim. In a manchester postcode as well so its bad. Insurance has gone up £400 since last year. Im 19 as well. I think its slightly cheaper as well as my mums a 2nd driver (but doesnt use it) and also her clubcard is on it so they find a good deal.

 

[Brett]

I pay monthly but purely because the insurance company had a 0% APR offer on when I renewed.

Same here, if interest rates hadn't go down i'd of been £60 up from keeping the money in my saving account too, dammit

 

[AK]

is there anywhere u can find out how the insurance companies rate your postcode? would be quite interesting to see tbh

 

[Kerryclio]

I pay out monthly as couldnt fork out a grand on insurance for the year works out around the same price i think tbh

 

[Da]

is there anywhere u can find out how the insurance companies rate your postcode? would be quite interesting to see tbh

Stickied at the top of this section...

 

[tim124]

Direct Line are 0% interest

 

[AK]

Stickied at the top of this section...

didnt even look cheers :star:

ffs mine is nearly the highest :|

 

[jesus]

Just got my renewal from tesco for £1800, Had a 'knock' with someone in december thus loosing my ncb and having a claim. In a manchester postcode as well so its bad. Insurance has gone up £400 since last year. Im 19 as well. I think its slightly cheaper as well as my mums a 2nd driver (but doesnt use it) and also her clubcard is on it so they find a good deal.

Cheers mate I'll look into that, I'm in the BL postcode but I think it's the same as M.

Both the highest risk apparently

 

[jesus]

£2846 with Tesco! Appalling tbh

 

[shadowsun]

CALL VIRGIN CAR INSURANCE. THEY DO NOT CHARGE YOU FOR PAYING MONTHLY. Paying yearly or monthly = same price

Just make sure you mention it.

 

[Jordi17]

I pay monthly, fcuk giving the insurance company my money a year in advanced!!!