For the price of a cinema trip each month: you can now pay for your Euroins insurance policy by parts

Paying several thousand hryvnias in one go for an insurance policy can be a bit of a mental hurdle, as significant one-off expenses require careful planning. But what if you could make the purchase by paying by parts? This makes the decision much easier, involves no extra charges and means you don’t have to compromise on the cover you choose. Let’s use a simple example to explain how the service works.

The modern financial world has long since changed consumer habits, shifting the focus from large, one-off purchases to a convenient subscription model. This approach is now fully available on the Euroins website. We have partnered with leading Ukrainian banks — PrivatBank, monobank, PUMB and Oschadbank — to integrate the ‘Payment by parts’ service. Let’s take a look at how splitting a payment turns an expensive purchase into an almost imperceptible monthly investment, and why the maths now works in your favour.

How it works, with no hidden conditions

Buying services on instalments used to be associated with fees and complicated bank contracts. But in insurance, it now works just as simply and transparently as when buying consumer electronics. You simply choose the policy you need (third-party motor insurance, CASCO Light or Travel) on the Euroins website; after calculating the cost and entering your personal details, click on your bank’s icon and split the total amount into a convenient number of parts — 3 or 6.

There are no extra charges; Euroins covers the bank’s commission. Your insurance cover kicks in immediately for the full amount of cover, whilst only the first small part is debited from your card. The remaining amount will be automatically debited in equal parts once a month, without requiring any additional confirmation or visits to the bank from you.

The psychology of the wallet: a film, dinner or safety?

To understand the benefits of ‘Payment by parts’, you need only look at our daily expenses. Let’s take, for example, a standard motor third-party liability insurance policy costing 4,000 hryvnias. If we split this amount into 6 equal parts, we get a monthly payment of around 667 hryvnias.

Let’s compare this figure with our usual everyday expenses. 667 hryvnias is the cost of dinner for two at a pizzeria or two cinema tickets with popcorn. Psychologically, it is much easier for a person to make a monthly payment equivalent to the cost of a trip to the cinema or a café than to set aside 4,000 hryvnias from their budget in a single payment. Financial stress disappears, and the cost of comprehensive protection for one’s property or health is equated with basic everyday comfort.

No compromises: how to afford the very best

When you have to pay the full amount straight away, it’s often tempting to try and save money. But in that case, you end up having to choose a cheaper package, reduce your cover limits or do without additional options. Payment by parts allows you to resolve this dilemma.

Let’s imagine you’re choosing between the compulsory ‘Standard Motor Insurance’ and the extended ‘Motor Insurance Plus’ or ‘Euro Protection’ schemes (which include higher voluntary third-party liability limits). When spread over six parts, the difference in cost amounts to just a few dozen hryvnias a month.

Thanks to this approach, you no longer have to choose between the quality of your insurance and your day-to-day family expenses. You get maximum cover today, whilst your spare cash remains at your disposal — for your children’s clubs, a pleasant weekend away or building up a financial safety net.

A smart choice for the modern budget

Using an interest-free instalment plan is no longer a sign of a lack of funds, but rather an indicator of modern financial planning. It is far more effective to keep the bulk of your money in your own account, maintaining budget flexibility, and to cover the cost of the policy in manageable instalments.

Visit the Euroins website, calculate the cost of the policy you need, choose a convenient bank for ‘Payment by parts’ and treat yourself to the best cover without a second thought!