What is no deposit car insurance?

6 minutes

So, you’ve got yourself a new car or you’ve just passed your test. 

Now’s the perfect time to look into how you can get yourself protected with the right car insurance that doesn’t require a deposit.

There are all sorts of specially tailored car insurance deals out there. With most of them though, you’ll have to cover the cost of your insurance by paying a deposit up front. But we all know paying a deposit for your insurance after buying a new set of wheels isn’t always possible. 

If that’s the situation you’re in, then no deposit monthly car insurance might be the right choice for you. 

No deposit car insurance explained 

No deposit car insurance means you don’t have to pay a deposit at the start of your policy. Any payments for your policy are paid monthly or annually. 

Paying for your car insurance in one lump sum at the beginning of your policy is normally cheaper over time as you’re less likely to pay monthly interest. But many people don’t have the funds to pay a lump sum at the start of a policy. 

Finding a provider that offers a no deposit car insurance policy means you just have to pay your monthly payments, which should make it easier for you to budget.

Can you get cheap car insurance with no deposit? 

Because you don’t pay anything up front with a no deposit insurance policy, your monthly payments may be slightly higher. Don’t let this put you off though, because it’s still possible to arrange cheap car insurance without a deposit.

Finding a provider who lets you spread your payments across the year is a good idea if you can’t afford to pay annually or pay a deposit. There are also some providers who accept credit plans.

You can still spread the overall cost of your insurance and you won’t have to pay any monthly interest as long as you can afford to repay what you owe by the end of the agreed interest-free period. Some insurers may offer interest-free options for your entire policy. If you’re not too sure, just ask your insurer when you’re getting a quote.

How to get no deposit car insurance 


With Flow monthly, getting a quote for no deposit car insurance is easy. Another bonus is that you won’t need to pay any interest or admin fees or be hit with hidden extras. Once signed up, you’ll have 24/7 access to your account, which you can then tailor to your specific needs whenever you want. 

To apply for no deposit car insurance:


  • We’ll first ask for your car’s registration – you can either type it in manually or upload a picture. 
  • Next, add the details of your driving licence as well as any other drivers you want to include on the cover. 
  • We’ll also ask for some personal information – including your date of birth, address, and how much experience you have as a driver. 
  • Select any additional extras you might want, such as guaranteed hire car cover or motor legal expenses. 
  • Submit your application and we’ll give you a quote immediately. 

Finding the best no deposit car insurance 


When shopping for the best no deposit car insurance, you’ll want to find a trusted and established provider who offers everything you need without requesting a deposit. 

Our Flow monthly car insurance is affordable and flexible. You can quickly get an online quote for up to six drivers without having to pay admin fees or monthly interest. And you don’t need a No Claim Discount (NCD) to be eligible for our competitive prices, as we tailor your payments to your specific situation. 


When will I start paying for my no deposit car insurance? 

Straight away. That’s the best bit. Your first payment will be taken and that’s it – you’re all set. If you’re ever worried you might struggle to make a payment, you should contact your provider immediately. You’ll be glad you didn’t put it off.

Why does my guaranteed price change every three months?

We understand how important it is to manage your finances. That’s why we let you know the maximum you’ll pay for three months, based on your circumstances, rather than every month. But don’t worry, we’ll still give you a monthly breakdown, which you can see in your Flow account seven days before the payment is due.

How much will I pay over three months?

If we tell you the maximum cost per month is £40, we guarantee you won’t pay more than that. The price could drop to £35 in the second month or go up to £38 in the third, but you’ll never have to pay more than the amount we specify at the beginning of each three-month period. 

Ready to arrange your cover? Find out more about our Flow monthly car insurance and get a quote today.