Motorists in the UK may find that opting for monthly car insurance results in the costs becoming more manageable than year-long options.
MoneySupermarket.com has noted this type of payment can add as little as 5.34 per cent extra to the price of the original premium.
It explained settling costs in smaller chunks can help people better organise their payments – but warned choosing the wrong monthly deal could prove costly.
Pete Harrison, car insurance expert at the price comparison site – which was set up as an offline business in 1993 before being launched as a website in 1999 – noted running a vehicle is not cheap at present, with increasing fuel costs exacerbating the problem for many.
The industry figure added putting a sizeable premium upfront for cover “can be another huge strain on your finances so paying it monthly in smaller, more manageable amounts is a good way of making your insurance easier to afford”.
He recommended road users consider the offers available across the whole market to make sure they locate the most reasonably prices arrangement that are suited to their own circumstances.