Research from Premium Credit has recorded an increase in the number of people who are prepared to pay for their insurance policies using credit. The latest Premium Credit Insurance Index found that 21% of adults said they are more accepting of paying for insurance policies with credit than they were a year ago. This was up from the 15% recorded in October 2022.

Adam Morghem (pictured), strategy, marketing and communications director at Premium Credit, said: “Paying for insurance with credit is becoming increasingly popular given the current cost of living squeeze on budgets which our research shows are set to tighten in the year ahead.

“People with mortgages are under the most pressure and it is understandable that many are considering cancelling important insurance policies as well as making major cutbacks to their standard of living.”

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