Can I really buy car insurance with no deposit?
Many people are looking for car insurance, without having to pay a deposit upfront. Despite the claims of certain websites, truly 'no deposit' policies simply don't exist, they are not legal under UK law. However, you can still pay for your car insurance over 12 months without having to pay out a large sum in advance. You can also compare quotes; more than 100 insurers can be asked to compete for your business.Many of these insurers will be happy for you to pay monthly, and they will mostly accept very small deposits. These can be paid for by credit card, which leaves you with more time before you have to actually put your hand in your pocket.
The initial premium is usually as little as one twelth of the total premium, including any credit charges. There are then, often, eleven further equal monthly payments, so you can usually spread the cost over a whole year.There is almost invariably a charge for credit payments, and it is cheaper if you can pay the whole premium in advance. However, by comparing prices you can not only search for the cheapest policy overall, but you can look for the ones with the lowest charges for monthly repayments, too. it is, therefore, quite possible for you to end up paying less than your current insurer is charging you, even allowing for any extras.