Premium Credit research shows finance options crucial to over 25% of insurance customers
More than one in four (27%) insurance customers would cut cover or switch to cheaper policies if they were not able to make monthly premium payments, according to research by Premium Credit.
The premium finance provider polled 827 people aged over 18 this March across the country and found two out of five (39%) customers in total would be affected if they could not pay for their insurance on a monthly basis.
Premium Credit’s Insurance Index also detailed that 8% of drivers would sell their cars if they could not pay monthly and 2% would drive without insurance.
In addition 8% of consumers surveyed would cancel home contents insurance if monthly payment plans were not available.
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