When shopping for car insurance, it's always nice to know that there are ways to save on premiums. Today, there are numerous ways to reduce the price you pay - from avoiding accidents and moving violations, to driving a more environmentally friendly vehicle.
Now, you can also save even more money on your auto insurance simply based on the way you opt to pay for it. For example, when using electronic funds transfer bill pay, you can typically receive a discount.
Fast, Free Auto Insurance Quotes
This is because today, thanks to the ease and convenience of the Internet, many auto insurance companies are making paying for your car insurance coverage easier - and less expensive - by offering an electronic funds transfer option. And, in doing so, you can actually save a great deal of money over time. Going this route can also be beneficial in other ways, too.
How Electronic Funds Transfer Bill Pay Works
By setting up the electronic funds transfer bill pay, you will have your auto insurance billing payments deducted automatically from either your savings or checking account. In doing so, both time and money are saved - which eliminates installment fees.
This can essentially save you in premium dollars on your auto insurance coverage - as well as in other costs such as postage. It also eliminates wasted paper and time - turning the whole process into a much more convenient system.
Doing so will also ensure that your auto insurance payment is always paid on time. This means that you won't need to worry about going without coverage or paying any late fees due to premium checks being lost in the mail or other time-consuming details.
When signing up for EFT bill pay on your auto insurance, be sure to inquire with your insurer as to what other premium discounts you may be eligible for. By having multiple discounts on your car insurance, the savings can really add up - in turn, savings you a substantial amount of money every year.
Photo credit (top image): Brendan Wood