Over four in 10 drivers pay for their car insurance by monthly instalment. But doing so bumps up the cost of cover even further. We’ve analysed the 11 million quotes run on our car insurance channel in the 12 months to May 2015 and found that 44% of drivers pay by instalment. This is understandable, given that typical premiums are the thick end of £500 – a hefty sum to stump up in one go. But the problem is, paying monthly for car insurance adds an average £62 to each policy. Our stats show that the average premium for drivers paying annually is £452, versus £514 to pay monthly – an uplift of 11%. But there is an alternative if you can’t or don’t want to settle your premium all in one go.