Car insurance without a deposit

  • Does it exist?
  • Can you buy it?
  • Can you pay monthly?
  • What does it cost?

Looking for low, or no, deposit car insurance?

Paying monthly is the best choice for many motorists, whether they are new, young drivers or very experienced ones. I'm sure we agree that insuring a car is far too expensive, and we are here to help you find a good cheap policy, without you having to make a large advance payment.

Does 'no deposit' car insurance exist?

There are ways of buying a policy even if you cannot afford the premium, or even the initial deposit. Normally you have to pay at least a small deposit for car insurance. There is simply no such thing as a no, zero, nil deposit policy. A small sum, at least, has to be paid in advance. Otherwise, your cover simply wouldn't be legal. However, there are ways around this; see the FAQ (frequently asked Questions).

How much would I have to pay upfront?

It is possible to pay as little as 1/12 of the total premium to start with. Regular payments can then be made for up to a full year. Upon renewal it is often possible to simply continue with the new periodic instalment. After all, this is the way that most people, particularly younger ones, organise their budgets.

What does it cost?

All, or nearly all, car insurance companies charge extra for those who do not pay the full premium in advance. This is generally accepted to be about 11% of the total price, although this can vary considerably.

Also: some of the cheaper insurance companies don't offer month – to – month payments. This means that you may miss out on the best bargains.

How do I find cheaper quotes?

You may be able to save a great deal of money by comparing multiple quotes, from up to 100 or more insurers, most of which offer monthly payments. Some of these will even provide easy terms for drivers with poor credit.

Getting a quote will only take you a few minutes and will place you under no obligation whatsoever, so why not get one now. It could save you a great deal of money!

Frequently asked questions

1) Is there any way I can REALLY get insurance without paying a deposit?

1B) Here's ANOTHER way!

2) Does paying monthly cost more?

3) How much deposit will I have to find?

4) Will I have to enter into a credit agreement?

5) I have poor credit. Does that mean I won't qualify?

6) How long will I have to pay the balance?

7) Will this affect my credit score?

8) Will I still accumulate a no-claims bonus?

9) Could I cancel the policy before the end of the year?

10) can I cancel the policy after an accident?

11) So what's the secret you've kept until last?

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