Can I pay less than the deposit amount when setting up a policy on monthly instalments?
The deposit is the minimum amount the insurers need to set your policy up and therefore a lower deposit can't be accepted. We are also unable to accept a higher deposit to make the monthly instalments cheaper, however, you can opt to pay off a monthly policy at any time.
The deposit you pay when setting up your policy is a non-refundable deposit, it is paid directly towards the overall policy premium and acts as your first monthly payment.