Can I pay for the car insurance in monthly installments?


Many people wonder if it is possible to pay for car insurance in monthly installments. And that is why, at Economipedia, we have decided to make an article to shed light on this matter.

The crises, unemployment and the reduction of economic activity show, once again, the importance of planning our personal finances correctly and prudently. Saving is important, not only for matters such as the annual payment of car insurance or taxes but to gain peace of mind and financial freedom.

No matter how stable our job position is, you never know when our employment contract might end. Or from another perspective, no matter how stable our income is, we can never ensure that it will remain the same in the future.

Thus, although depending on the situation, the uncertainty may be greater or less, it is always there.

The month you have to pay for the car insurance

In this sense, one of the common headaches for many people is car insurance. Who has not listened? "This month I'm annoyed because I have to pay for the car insurance." Yes, it is true, it is a relatively large payment compared to the average monthly salary, but it is no different than making a monthly payment. In fact, knowing that within 12 months you will have to pay 500 euros, it is indifferent to pay the car insurance for months than to save each month to have 500 euros within 12 months and make the payment in one fell swoop.

However, not everyone has the time, the will, or the basic knowledge to organize their personal finances. So having a small payment obligation month to month is something easier for them. Especially because they do not have to worry about the annual insurance payment, which in many cases they do not even remember what exact day they charge it to their bank account

Pay car insurance monthly

After the Covid-19 crisis, more and more insurers are providing their clients with the monthly insurance payment. Of course, everything is said, not all have the same conditions.

In this regard, it is important to inquire depending on the insurer that we are going to hire. Since, the monthly payment may carry a surcharge. Above all, depending on when we have to make the payment. That is, it is not the same to postpone the payment of the insurance that we must pay this month, than to agree with the insurer (after making the payment this year) that from now on the payment will be monthly.

Therefore, and as we always say, the most important thing in these cases is to compare costs, coverages (which do not usually change due to paying monthly), insurance companies, possible price increases and read everything related to the car insurance contract so as not to be surprised. .

Tags:  banks right administration 

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