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Insurance admin
Leedash
Posts: 441 Forumite
Hi what are these insurance admin fees,a renewal of £330,but when questioned £496 with admin fees,it is based in monthly tariff.
But if I had the money straight payment would be £452.
But if I had the money straight payment would be £452.
0
Comments
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Paying by instalments has interest rates not admin fees as you are having a loan from the insurer or a third party to cover the premium for you.
How did the difference between the initial renewal and the new one off renewal come about?0 -
When you pay monthly, you do so as a loan under a credit agreement. The interest rates charged are actually quite high and typically best avoided if possible.I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.0
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