Choosing to pay your premiums monthly results in a more expensive homeowners insurance quote than you’d get if you choose to pay yearly. Your insurance carrier is compelled to send you 12 notices for monthly payments as against one for annual payments. This costs them more.
As if that was NOT enough expense, each check they get attracts a transaction charge as well. They pay transaction fees 12 times instead of once anually for monthly payments. These and other charges so incurred by your insurance company are ultimately passed over to you, the policy holder..
You will make considerable savings if you begin to pay annually. The actual amount you could save may differ but expect to save up to a month’s premium worth with most insurance companies if you choose this option.
