Pay for insurance annually Jan 6th

Insurance policy getting you down? There are always sound insurance alternatives.
Latest News
 house insurance

Sanders Proposes Medicare for None + MORE Jan 18th

His bill would abolish all forms of private insurance and almost all existing public programs..... More »

Canadian banks hacked and the insurance claim you can't make: CBC's Marketplace consumer cheat sheet Jun 4th

CBC's Marketplace rounds up the consumer and health news you need from the week, including customer data hacked at two Canadian banks, taking car insurance companies to court and the provinces with the best cellphone plans..... More »

Forget buy versus lease — new services let you 'subscribe' to having a car Jul 26th

Car subscriptions are kind of like a lease; but one monthly fee covers the cost of the vehicle, maintenance, insurance and repairs. You can swap cars and pause or cancel a subscription at any time. Could actually owning a car become a thing of the past?.... More »

Manulife results hit by lower insurance sales, slower wealth management growth + MORE Feb 7th

Insurer reported earnings per share after items of 59 cents; analysts had been looking for earnings of 58 cents a share .... More »
insurance

Protecting Legal Fraud in Florida Jan 22nd

Republicans in the state Senate try to block insurance reform..... More »

Pay for insurance annually

– moneysense.ca

Pay for insurance annuallyAlmost everyone pays their insurance premiums monthly, but according to Chad Larmond of Larmond Risk Management Insurance, that’s not wise. “By paying annually, you will save 7% to 9%,” he says. There are three things working against you when you pay monthly. First, there is an administrative cost to process your premiums. Second, insurance companies charge you for the time they have to wait to get your money. Third, it’s an opportunity for insurance companies to profit from people’s aversion to paying premiums: People will happily pay more for the appearance of keeping their payments low. So if you’ve got the cash on hand, phone up your insurance provider and ask to pay your premiums annually. You can go out for a nice meal with the money you saved.
This article was first published January 2016

Want even more tips to shape up your finances? Join the Money Fit Club to curb spending, boost your earnings, lower your taxes and more!
Learn to tone your money muscles all year long with our interactive calendar and sign up for our weekly newsletter for advice straight to your inbox…

Continue Reading On moneysense.ca »

Share

PinIt
Compare insurance quotes through Kanetix.ca - save time and money!