What does install APR mean on insurance quotes?

tomchance

This is probably very obvious to all readers, but what does "install APR" mean on contents insurance quotes?

I'm looking for cover for me and my partner, just for the contents of our rented flat. I'm not sure what interest could be relevant?

This is from quotes via confused.com

Oscar_The_Grouch

Hi there

If you are paying your premium by monthly instalments, you are "getting a loan" for the cost of the policy and spreading it over 12 months. Just like the banks, insurance companies will charge you interest on the "loan". That's what the APR is; exactly the same as you pay on your credit card, loans, overdrafts, etc.

Insurance companies charge very high APR fees. If you can, get yourself a 0% on purchases credit card and buy the policy using that. Then all you have to do is shove enough money on to the card each month to pay off the card during the interest free period.