Budget Home Insurance: Higher Premiums Than You’d Spend If You Choose To Pay Annually
Electing to pay your premiums monthly attracts passing off budget home insurance rates that you would obtain if you choose to pay yearly. This is because posting twelve payment notices by mail monthly costs your insurer a lot.
The cost shoots up if you add the fact that they pay transaction fees for processing each check you send them monthly. twelve checks mean 12 transactions which attract 12 separate transaction charges. And, if you really come to think of it, these extra costs are ultimately added to your rates.
As a result, you’ll attract cheaper premiums if you opt to pay your rates anually. What you’ll save could be as high as 8.5% of your total monthly payments over the course of just a year.
