Over a third of UK motor and home insurance customers pay monthly

GlobalDataFinancialServices

Thu, June 25, 2026 astatine 10:49 AM CDT 2 min read

A GlobalData survey recovered that monthly outgo options play a captious relation successful maintaining security sum crossed idiosyncratic lines, peculiarly arsenic household budgets stay nether pressure. Meanwhile, probe indicating that consumers whitethorn trim oregon cancel screen if instalment options are unavailable highlights the value of flexible outgo methods successful supporting security affordability.

GlobalData's 2025 UK Insurance Consumer Survey recovered that 36.4% of centrifugal security customers and 38.5% of household security customers wage for their policies monthly. These figures show that a important proportionality of policyholders trust connected spreading costs implicit the twelvemonth alternatively than making a azygous upfront payment. For galore consumers, monthly instalments marque security much accessible and easier to negociate alongside different household expenses.

Recent probe from concern institution Premium Credit recovered that 22% of respondents would merchantability their car if they could not dispersed the outgo of centrifugal insurance, portion 16% said they would halt purchasing location buildings oregon contents security altogether. While paying annually is often cheaper overall, the upfront outgo tin beryllium prohibitive for galore households—particularly pursuing respective years of elevated ostentation and rising security premiums. Monthly outgo plans, therefore, service not lone arsenic a financing mechanics but besides arsenic a means of maintaining entree to indispensable protection. If consumers are forced to prioritise affordability implicit coverage, determination is simply a hazard that immoderate whitethorn opt for little levels of protection, summation excesses, oregon forgo optional screen altogether, perchance expanding levels of underinsurance crossed the market.

For insurers, the findings reenforce the value of balancing affordability with profitability erstwhile designing outgo options. While instalment plans tin summation administrative costs and present further regulatory considerations, they besides assistance insurers clasp customers and trim the hazard of underinsurance. Providers that tin connection flexible, transparent outgo solutions portion intelligibly communicating the worth of screen are apt to beryllium champion positioned to enactment lawsuit retention and support extortion levels crossed idiosyncratic lines insurance.

"Over a 3rd of UK centrifugal and location security customers wage monthly" was primitively created and published by Life Insurance International, a GlobalData owned brand.