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 Pay monthly car insurance costs £624million more a yearExpatriate Medical Insurance news about Medical Insurance, Health Insurance, Health Care Insurance, Expatriate Health Insurance, Affordable Health Insurance, Cheap Health Insurance.  The insurance industry is raking in £6241000000 extra each year from drivers that choose to pay their car insurance in every month instalments as the cost of motoring increases.With annual motoring costs up £500 a year, Brits are having to find ways of spread the cost to make ends meet, and paying their car insurance in every month instalments is one way of doing this; but it costs them a lot more in the long run, uSwitch has found. Fuel terms have risen 31 per cent since 2007, with drivers now paying an norm of £64 to fill their tanks, and car insurance premiums rise by £19 in the last year, uSwitch is goad motorists to consider the additional cost incurred by paying monthly. More than half of British people drivers â€" 131000000 â€" pay their car insurance premiums every month instead of in a lump sum, but their car insurance companies are charging them an norm of 23.8 per cent more for the privilege, which is about four times the most personal loan rates presently available. Sir Frederick Ashton Berkhauer, insurance expert at uSwitch.com, remark: "As insurance costs, gasoline prices and full general living disbursal are glide, motorists should think twice earlier agreeing to every month payments on their car insurance. It may seem like a neat solution if you're cash strapped but it carries a hefty involvement price tag so should be avoided where possible. "Of course of study, if you can't afford to pay for car insurance in one lump sum then this enterprise could be a boom. For those with more financial options, this truly is an unnecessary expense which simply inflates the cost of the policy." If paying the whole insurance premium in one go is not an option, then uSwitch recommends that drivers compare car insurance quotes to find a supplier which does not complaint extra for paying monthly, or using a credit card which offers a 0% interest period and spread the cost that way instead. © Fair Investment Company Ltd More Expatriate Medical Insurance News |