Mon | Apr 6, 2020

ADVERTORIAL | You can pay your insurance in instalments

Published:Friday | February 14, 2020 | 12:07 AM

Dear Shannon,

Thanks for your very informative column. I must tell you that every year when the time to renew my car insurance is coming around, I literally get sick. I dread the thought of forking out thousands of dollars to pay for coverage in one go, and even though there are quarterly payment options, it still offers me little comfort. I am paid fortnightly and was wondering if there is any help available anywhere that would take into account how I earn so that paying car insurance is not such a burden on me and others like me.

Dear Reader,

Thank you for the kind sentiments. MIBinsure.com offers the option to renew your policy online, which is much more convenient for the customer. In regards to your payment, it depends on when you start the policy. For example, as in your case, you are paid fortnightly; it would be best to start the policy around that time as you would have the cash to pay for the instalments. MIBinsure.com platform allows you to make multiple payments, however, you must ensure that the full monthly instalment is paid before the due date.

 

Dear Shannon,

I have been browsing MIBinsure and love the experience. I was wondering if there is any penalty if I choose to change my insurance option midstream. I have seen through browsing MIBinsure where I can get the same coverage for so much less than I am currently paying, and want to change to the better offer. How do I do this?

 

Dear Reader,

We are pleased that you love the online experience as our aim is to offer the best customer service to the user. To answer your question – if you have a current policy, you would have to cancel that policy before you are able to open a new one. Here is what I would do:

1) Get the best possible quote from www.mibinsure.com.

2) Find out what it would cost me to cancel the policy.

3) If after paying the cost to cancel the policy I am still saving money, then I would cancel.

 

Shannon Samuda

Communications Officer

Marathon Insurance Brokerssmsamuda@mibja.com