Your premium
The amount you pay for your insurance is called a ‘premium’. That’s how much it costs for you to be insured with us.
The total you pay when you buy your insurance includes that premium, plus any setup fees, the cost of your telematics device, Insurance Premium Tax (IPT) at the current rate and any interest you’ll pay if you choose to pay monthly.
Your payments
Paying monthly
Paying for your insurance monthly means you’ve set up a loan for the full amount from our premium finance provider, PremFina. They charge interest to provide this service, so you’ll pay more over the year than if you paid upfront.
When you choose to pay monthly as a new customer, you'll pay a deposit upfront and then monthly instalments. The payment amount will show on your direct debit schedule.
If you renew with us and choose to keep paying monthly, you won't have to pay another deposit.
If it's your first policy or the first time you're paying for this monthly, then your first direct payment is taken around a month after your policy starts because your upfront payment covers the first month. Your direct debit payments will be taken on the same date each month (apart from weekends and bank holidays). You can check your payment schedule from PremFina for the exact dates of your payments.
Paying annually
If you pay upfront for your policy, you’ll pay for your whole year’s insurance and won’t need to pay anything else until renewal, unless you make a change to your policy that makes the overall cost more expensive.