Car insurance: drivers paying monthly ‘face interest charges of more than 30%’
by Hilary Osborne from World news | The Guardian on (#6J53E)
Poverty premium' penalises drivers who cannot pay one-off lump sum, say campaigners
Car owners who pay for their insurance monthly rather than with a one-off lump sum are being charged interest of more than 30%, research has found, in what has been described by campaigners as a poverty premium".
Insurers give customers the choice of paying one annual premium or breaking it up and paying over the course of the year.
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