I heart Rant Blog
Rant Right Here
Renters Insurance Quotes — More Expensive Premiums Than You’d Pay If You Decide To Pay Yearly
December 27th, 2009 by admin
Electing to pay your rates on a monthly basis results in more expensive renter insurance quotes than you’d spend if you choose to pay yearly. An insurance carrier is compelled to send you 12 notices for monthly payments as opposed to one for yearly payments. This increases their overhead.
As if that was NOT enough expense, each check they get attracts a transaction charge too. 12 checks mean 12 transactions which incur 12 separate transaction charges. And, believe it or not, these additional overheads are ultimately built into your rates.
As a result, you’ll get lower rates if you choose to pay your premiums anually. What you’ll save could be as high as 8.5% of your total monthly premiums over the course of just a year.