Piggy Bank Photo By Danielle Elder
Photo By Danielle Elder

There is no need to pay more than you have to for your auto insurance.  Take advantage of discounts and payment options so that you get the most value for your insurance dollar. 

It is better to spend your money on better coverage than on fees or missed discounts.

Here are a few things you can do to lower what you pay:

  1. Pay In Full – If it is something you can do, then you should.  When you pay your insurance in installments, most companies charge a small installment fee.  Paying a policy in full may get you a Paid in Full Discount, or at the very least save you money on installment fees each month. 
  2. Pay By EFT – If you can’t pay it in full, consider paying by EFT (Electronic File Transfer).  By having the insurance company automatically make your monthly payment from your checking account or credit card, you could be eligible for an EFT Discount, or lower monthly installment fees.
  3. Pay on Time – Regardless fo your payment plan, make sure you bills get paid on time.  Late fees add up – fast, and paying late fees is just throwing money away.
  4. Take the Defensive Driver Course – Taking a defensive driver course is an investment that may save you big.  This course saves you money on your insurance for 3 years!
  5. Put Your Policies with the Same Company – This is not always possible, but check as to whether you can put your homeowners, renters, or even boat  insurance policies with the same company to get Account Discounts.
  6. Link Your Billing – If you have multiple policies with the same insurance company, ask if you can link the bills.  You may be able to save on installment fees when you get just one bill.
  7. Plan Ahead – If you are looking to start a new insurance policy, don’t wait until that day to ask your agent for quotes.  Some companies give discounts for quoting early.  By calling early and getting the ball rolling on it, you may save yourself some money.
  8. Be a Good Driver – This one is a no-brainer.  Your driving record affects your insurance premium.  Put your seatbelt on – always.  Don’t text or use a cell phone while driving.  Pay attention and be careful!
  9. Maintain Good Credit – Once factor most insurance companies are using is an Insurance Score which includes credit.  Maintaining good credit makes a significant difference on your auto insurance premium.  Keep an eye on your credit report to make sure it is accurate.

Use your money for better coverage rather than installment fees and late charges.  Ask your agent which of these options could save you money on your policy.