Switching Payment Frequency
You can change how you pay for your policy. There are two key timings to be aware of when making a change:
- At renewal (your annual anniversary) – the change can be done as part of the renewal transaction.
- Mid-term (during the insurance year) – a new policy is required.
You should also check current premium rates before taking out a new policy. These may have changed since your last rates were set. You can check current premium rates at any time by using the quote options from your dashboard (home insurance + or car insurance +).
Changing from monthly to annual
If you want to change from monthly to annual payments at anytime, you will need to set up a new annual policy. Here’s how:
- Log in to your dashboard.
- Create a new quote using the ‘+’ options available. The new policy will be subject to the rates in place on the day you change. You may therefore, wish to check the pricing options before deciding to change.
- Customise the quote as required.
- Select the “Pay annually” option.
- Complete the application form and make the annual payment.
- Once the new annual policy is active, cancel your original monthly policy. Any unused portion of premium will then be automatically calculated and refunded.
Unfortunately, due to the different payment technologies used for monthly and annual payments, we’re unable to simply change an existing policy mid-term.
Changing from annual to monthly
What if I want to switch from annual to monthly payments?
How to achieve this depends upon the timing of your insurance year;
At your annual renewal
If your home policy is due for renewal, you can switch from annual to monthly by selecting the “Pay monthly” option during the renewal process from your customer account/dashboard.
Mid-term (during the insurance year)
If you want to change to monthly payments before or after your renewal date, you’ll need to set up a new monthly policy:
- Log in to your dashboard.
- Create a new quote using the ‘+’ options available. The new policy will be subject to the rates in place on the day you change. You may therefore, wish to check the pricing options before deciding to change.
- Customise the quote as required.
- Select the “pay monthly” option.
- Complete the application form and make the first monthly payment. The subsequent monthly payments will fall on the same day of the month that you start this policy from.
- Once the new monthly policy is active, cancel your original annual policy. Any unused portion of premium will then be automatically calculated and refunded.
Payment Options
Can I pay monthly by bank transfer or direct debit?
No, Monthly payments require a valid credit card or visa debit card and cannot be paid for by any other means.
Can I pay fortnightly, weekly or quarterly?
No, we only offer monthly or annual payment frequencies. We do not have alternatives available.
Remember, it’s always important to review your options carefully to make sure you’re selecting the best one for your needs.
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