Avoid direct debit for car insurance savings, website states

Thu, 24 Jul 2008

People looking to save on their car insurance might be better off paying in one lump sum, it has been claimed.

According to MoneyExpert.com, spreading car insurance payments using direct debit often means people end up paying more.

The financial website points out that this could lead to an increase of around 37 per cent in a car insurance premium.

"With standard car insurance policies already approaching the £800 mark, a direct debit payment system could see you forking out as much as £1,050," the website states.

Those who are classed a higher risk will end up paying even more for their car insurance, it adds.

Yesterday, More Than announced it is to offer new customers a ten per cent discount on their car insurance premium when they switch to the firm.

This will rise to 20 per cent when they renew as long as they have not made an at-fault claim on their car insurance.

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