Compare Home Insurance: Electing To Pay Your Premiums On A Monthly Basis Leads To Higher Premiums
This is very necessary if you are looking to compare home insurance rates: You’ll get lower home insurance rates if you choose to pay your rates annually and not every month. This is because posting 12 bills by mail each month costs your insurer a lot.
If you add to the fact that each check you cut is considered a transaction by their bankers, you’ll see that they still spend some more on transaction fees for each check you pay in. twelve checks mean 12 transactions which mean 12 different transaction charges. These and other costs so incurred by your insurer are eventually borne by you, the policy holder..
Therefore choose annual payments instead if you want to save this way. The real amount you could save may differ but you may be able to save up to a month’s premium worth with some insurance companies if you settle for this option.
