There is a popular saying that has lasted that is "being penny wise, pound foolish. How does this apply to Insurance?
Most Insurers seekers don't even consider annual premium payment some because they can't truly afford to and others because they have not gotten to know that they can save some money this way.
An insurer would look favorably at you if you choose to pay your premium annually and this could translate to a discount. Why?
Apart from the obvious fact that having money in bulk is always a preferred option as you an do more with it, there are some little administrative cost that are automatically eliminated when you pay annually.
The time money and human resource it would take to process an annual payment is actually the same effort ti would take to process a months payment. What this simply means is that when you pay monthly, you give the insurance company twelve times the work a person who pays them annually gives them.
Note that any extra expense is incorporated into your premium somehow. The cost for monthly postage of your receipts, monthly processing of your checks.
You are certainly better of paying annually. If however you can't afford it, do not despair as you too as well the annually payer can save more by simply getting and comparing as many quotes as possible.
Doing this increases your chance of getting the best deal exponentially you won't believe it until you've tried it.
You can start with my two favorites.
Insureme Quotes! |
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