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Paying for insurance

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  • 05-07-2006 12:02pm
    #1
    junii
    Closed Accounts Posts: 600 ✭✭✭


    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.


Comments

  • Options
    #2
    Seth Brundle
    Moderators, Politics Moderators Posts: 39,749 Mod ✭✭✭✭Seth Brundle


    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.


  • Options
    #3
    junii
    Closed Accounts Posts: 600 ✭✭✭junii


    ok, thanks.


  • Options
    #4
    Stark
    Registered Users Posts: 20,991 ✭✭✭✭Stark


    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
    Gurgle
    Closed Accounts Posts: 5,064 ✭✭✭Gurgle


    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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