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Credit from insurance companies

Answered according to Hanafi Fiqh by Muftisays.com
What is the ruling on taking out car insurance from companies buy paying monthly installments, which costs more than paying a one-off fee, if someone cannot afford to pay the one-off fee?


Answer

Bismillah

Al-jawab billahi at-taufeeq (the answer with Allah’s guidance)

Paying for car insurance this way is permissible.

And Only Allah Ta’ala Knows Best.

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Moulana Qamruz Zaman
London, UK

This answer was collected from MuftiSays.com, based in London (UK). It is one of the fruits of Darul Uloom London. Many ‘ulama are involved in answering the Q&A on the site, including: Shaikul Hadeeth Mufti Umar Farooq Sahib, Mufti Saifur Rahman Sahib, Mufti Abdullah Patel Sahib, Maulana Qamruz Zaman Sahib, Mufti Abu Bakr Karolia Sahib.

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