In Greece car insurance is advertised by the quarter. “From €45” almost always means “€45 for three months”, and the number that sticks is the 45.
Four quarters do not cost the same as one year. In our data the average loading for paying by the quarter is around 16% above the annual price, and companies without an agent network charge noticeably less for it than the traditional ones.
Why the loading exists
It is not a punishment. A quarterly policy means four times the administration, four collections, four times the risk that the next instalment is not paid, and a customer who can leave four times a year instead of once. Companies without an agent network charge less for it because they have less of all of the above.
When the quarter is worth it
- When you are thinking of selling the car. The refund for cancelling an annual policy is never proportional; you lose less with a quarter you simply do not renew.
- When you have just switched company and do not know it yet. Three months is a cheap sample, especially if it is the first time you have insured online.
- When the budget cannot take the lump sum. That is the real reason for most people, and it is perfectly legitimate, as long as you know you are paying for it.
When it is not
When you choose it because the number looks smaller. It is smaller for three months. In our comparison every price shows the annual equivalent beside it, precisely so you do not compare one company’s quarter with another’s half-year.