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Insurance Quotes — Get More Affordable Rates; Elect To Pay Your Rates Anually And Not Monthly
January 14th, 2010 by admin
Yearly premium payments will save you a lot and allow you attract cheaper insurance quotes as against monthly payments. A strong reason for this is the cost an insurance company incurs by sending you twelve payment notices instead of just one each year.
If you include the fact that each check you cut is considered a transaction by their bankers, you will see that they still pay extra on transaction fees for each check you pay in. 12 checks mean 12 transactions which mean 12 separate transaction charges. And as with every other thing, it is you the customer or policy holder who will be responsible for that cost.
You will get considerable savings if you choose to pay annually. What you’ll save could be as high as 8.5% of your total monthly payments over the course of just one year.