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Paying for insurance

junii · 2006-07-05 11:02:06

When you go the route of paying every month for your insurance, do you have to pay for a full year or can you pay just for six months. Is there any extra cost when you go this route? Cheers.

05-07-2006 11:02am

#1

junii

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When you go the route of paying every month for your insurance, do you have to pay for a full year or can you pay just for six months.

Is there any extra cost when you go this route?

Cheers.

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Comments

#2 05-07-2006 11:04am

Seth Brundle

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I think all companys require a minimum of 1 year for a policy.
Regarding payment, if you pay over a period of time (6 months or whatever) then you pay an interest charge.

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#3 05-07-2006 11:37am

junii

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ok, thanks.

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#4 05-07-2006 1:27pm

Stark

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You can cancel your insurance mid-way through the year and get a refund minus an administration charge.

The interest you pay to the insurance when you pay monthly is usually huge by the way. I used a credit union loan to pay for my insurance.

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#5 05-07-2006 1:59pm

Gurgle

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Stark wrote:

You can cancel your insurance mid-way through the year and get a refund minus an administration charge.

The administration charge is 33% to 50% of the remaining policy, depending on the extortion racket, ahem sorry, insurance company.

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