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NO DEPOSIT CAR INSURANCE

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Several insurers offer you the option of being able to pay for your car insurance in manageable monthly instalments, some even offer no deposit car insurance. However, it is important to remember that you may be charged interest for the privilege of paying monthly and often a deposit of around 20% is required up-front. Compare no deposit car insurance policies with Utility Saving Expert today.

However, there are car insurance companies that will allow you to pay monthly with only a very low deposit, and if you search hard enough, you will find companies that require no deposit at all. Our guide looks at the no deposit car insurance subject in more detail.


Pay Monthly – Spread the cost of no deposit car insurance

Car Insurance is essential for you to have if you wish to drive on a public road. Unfortunately, the cost of car insurance seems to increase every year. Many car insurance policies now cost more than £1,000 per year, an amount that many will find difficult to pay in one lump sum. Paying through monthly instalments can often make car insurance cover more affordable.

However, it is important to remember that by paying monthly, you will often have to pay additional costs. This means that in the long term, you will end up paying more than you would have had to do if you had chosen to pay the full amount up-front.

If you are fortunate enough to be able to pay for your car insurance cover within one payment, you will certainly save money by doing so.

A no deposit car insurance policy is another way to allow you to spread the cost of your car insurance premium. This is because you will not be expected to pay the typical 20% initial deposit.


How do I reduce my car insurance premium?

There are a few different ways you can reduce the cost of your car insurance cover, this would cut the amount you would be required to pay up-front for an annual car insurance policy.

One example would be to increase the amount of voluntary excess you agree to have on your car insurance policy. The excess is the amount payable up front if you need to make a claim on your insurance, with your insurer paying the difference between your excess and the total final value of your claim.

If you do agree to a higher voluntary excess charge, then often it can lower your car insurance premium. It is important to consider that you may have to pay out a significant sum if you are involved in an accident.


Deposits, monthly payments and interest

It is common practise for you to have to pay a deposit when you purchase a new car insurance policy. This can be as much as 20% of the policy value and in some rare cases, even more.

Depending on the total amount of your car insurance policy, the deposit itself may be a significant sum of money for you to have to pay up-front. This may mean that it becomes very difficult for you to purchase a policy without the availability of plans that offer either low or no deposit car insurance options.

Apart from not having to pay a deposit, a low or no deposit car insurance policy is the same as any other car insurance cover. These alternative options provide a real lifeline for people who can’t afford to pay a large deposit upfront.


No deposit car insurance comparison

When purchasing or renewing a car insurance policy, we strongly recommend comparing a wide range of insurers to ensure you’re getting the best price available.

Regardless of the type of policy you are looking for, Utility Saving Expert can help you find both low and no deposit car insurance cover. We compare more than 90 different insurers to help you find the best deal for your personal circumstances.

Compare, switch and save on no deposit car insurance with Utility Saving Expert today.



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