Home Owners Insurance Quote: Higher Rates Than You’d Pay If You Choose To Pay Annually
Electing to pay your premiums monthly leads to a more expensive home owners insurance quote than you’d attract if you decide to pay yearly. A strong reason for this is the cost an insurance company incurs by posting you 12 bills instead of just one anually.
If you include the fact that each check you cut is considered a transaction by their bankers, you’ll see that they still spend extra on transaction charges for each check you pay in. 12 checks are 12 transactions which mean 12 different transaction charges. These and other charges so incurred by your insurer are eventually passed over to you, the insured..
Therefore choose yearly payments instead if you intend to save this way. You could save up to a month’s premium in just a single year.
