One way to save money on insurance that is often unnoticed is to pay your premium the way your insurance provider prefers – on time, in full, or through automatic or digitized billing. If you need to renew your auto insurance policy, you should ask your insurance if they apply for auto insurance payment discounts.
Full payment Discounts
Many auto insurance providers offer auto insurance discount rates by paying your premium completely instead of monthly. For example, let’s say it’s time to renew your auto insurance coverage and send you by letter or email an invoice for $531 to extend your policy coverage for the next six months. If you pay it completely immediately, you can get an immediate discount on your premium.
Depending on your auto insurance provider, a full payment discount could save you from 5% to 11%.
On-Time payment discounts
Paying your insurance premium on time is essential. It can protect you from having interruptions in your coverage, which can lead to fines, suspension of licenses and financial ruin in the event of an accident. But did you know that paying on time on a regular basis can give you a discount?
Many insurance companies offer a discount for paying your car insurance on time. The timely payment discount is given to drivers who make their policy payments for a specific period of time. Although not all auto insurance companies offer a discount on a timely basis, this discount is one of the easiest to take advantage of.
Automatic Payments Discounts
To make sure you make your payments on time and not have interruptions in your coverages, many drivers choose to set up automatic payments with their auto insurance companies.
When you set up automatic payments, your payments will be withdrawn from your checking or savings account each month. Automatic Payment can save you money on your premium and can also make your life easier by eliminating the need to be aware of making monthly payments. You can be calm to learn that your premium is being paid and eliminate the risk of losing your coverage for not paying or for doing it late.
When you consider that most states have laws that require auto insurance, it is easy to understand the importance of not allowing an interruption in coverage, because when that happens, you may be in breach of the law.
Think about it if your auto insurance company offers auto-pay discounts. It’s an easy way to save money on your premium and simplify your life.
Today, many businesses are trying to increase their environmental sustainability, and the same goes for auto insurance companies. One of the ways that auto insurance providers are doing it is by rewarding their customers economically for supporting them in their efforts.
When you remember to delete paper bills and receive them in digital form by email, you can qualify to get a discount. Digitized billing means that instead of receiving your invoice by post, you will receive an invoice by email. Then you can pay your account online with a debit or credit card, or a valid electronic check. Make sure you talk to your auto insurance provider to see what payment discounts are available to you.