Anyone ever had this with greenlight?

[CJ 251]

Had insurance through greenlight for a year now and my renewal was emailed to me. So I rang them up to see if I can get it any better. They told me I would have to pay a deposit which I do expect as it's a new policy. but then when I asked how much my actual renewal was to pay monthly I was told I had to pay a deposit on this also. I never heard of paying a deposit on a existing policy

 

[davidpingu]

Yes I had to pay a new deposit recently too. I think it's because they are a broker so you're not necessarily going through the same insurer each year.
It's a bit of a rip off paying monthly though. I got quoted £400 for the year but because I didn't have it up front it was £100 deposit and £47 per month so nearly 50‰ dearer just for the privilege of paying monthly.

Personally I'm amazed the government have allowed insurance policies to be taken out through finance. Seems like profiteering to me. Will definitely be paying in one lump sum next year. I'm glad it's only £400 and not 3 or 4 times that like some of the younger owners are probably paying.

 

[Neil@Greenlight]

Had insurance through greenlight for a year now and my renewal was emailed to me. So I rang them up to see if I can get it any better. They told me I would have to pay a deposit which I do expect as it's a new policy. but then when I asked how much my actual renewal was to pay monthly I was told I had to pay a deposit on this also. I never heard of paying a deposit on a existing policy

This is correct we use an outside finance company. With us you only pay 9 payments so your direct debit would of stopped for the existing policy 2-3 months ago....So you havent made any payments for the last 2 months.

We dont do automatic renewals so if you wanted to proceed with a renewal you pay a deposit (which acts as your first payment) then your direct debit payments continue from the following month

Personally id always recommend paying in full if you can it avoids the interest charges that are made doing it via installments.

Best Regards
Neil