Computerquote Insurance offers you a unique way to pay for your home insurance online: the Pay As You Go monthly instalment plan. Unlike most annual instalment plans offered by other insurers, you can stop, start or cancel at any time with no penalties as long as you keep your payments up to date and give cancellation instructions over the telephone or in writing.
A deposit is required (typically 8.33% of the total annual cost including all charges) by credit or debit card and the balance is payable over 11 equal monthly payments by Direct Debit. At renewal, no deposit is required and the balance is payable over 12 months. Funding may be provided by us or by Premium Credit Limited, Premium Credit House, 60 East Street, Epsom, Surrey KT17 1HB (you will be advised accordingly).
The premium is subject to an interest charge when using the Direct Debit facility. Based on the total price, the current rates are:
|Home insurance online||11.90%||23.50% typical variable||8.33% of total premium|
|Home insurance renewals||11.90%||23.50% typical variable||None|
Example interest charges for a new home insurance policy
If the total premium is £200.00, a deposit of 8.33% (£16.67) is payable. The remaining balance of £183.33 is paid over 11 instalments with interest charges of 11.90% (APR 23.50% typical variable). Therefore, the interest charge for the year is £21.82 and the monthly payment is £18.65 or (£183.33 + £21.82) ÷ 11.
Pay As You Go is available for car, van or home insurance policies arranged by phone or online. For more information about the Computerquote Insurance Pay As You Go instalment plan, call us on 0800 389 9949. Alternatively, request a callback here.