Motor insurance customers who buy cover monthly can end up paying hundreds of pounds more than those who pay for policies annually - and the gap appears to be growing in cash terms - according to research from Which?
The consumer group used data from comparison website Go.Compare to find the average difference between prices paid by annual and monthly customers between December 2018 and September 2023.
In September 2023, those paying monthly for an annual policy faced paying around £309 more on average over the year than those paying in one go, according to the research.
The average annual cost of monthly payments was £892, while the cost of paying annually in one go was £583. In September 2022, the average gap was £251 (£738 for monthly payments versus £487 for paying annually).
Read more on dailyrecord.co.uk
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