How Much Can I Save on Car Insurance with Paperless Billing?
Last Updated on January 2, 2020
Many insurance companies in New York state offer discounts for switching to paperless billing. If you’re comfortable paying your bills online, this is a no-brainer. It’s one of the easiest discounts you can get on your car insurance, plus paying online is very simple and convenient. Here’s what you need to know about paperless billing discounts for car insurance.
Why Do Insurance Companies Offer Paperless Billing Discounts?
It’s in your car insurance company’s best interest to offer a discount for paperless billing. Paperless billing is much more secure than making payments through the mail, and paperless billing also makes it much easier for customers to pay their bills on time. Both of these factors mean that paperless billing is financially advantageous for car insurance companies, so they’ll offer discounts to encourage customers to do it. As the name implies, paperless billing also saves paper, which can save the insurance company money on printing and is much better for the environment.
How Much Money Can I Save with Paperless Billing?
The amount you can save with paperless billing is going to depend on which insurance company you are using. Some companies won’t explicitly offer this discount but will take a very small amount off of your bill when you pay electronically. Others can offer as much as 5 or 10 percent off your total bill. When shopping for car insurance plans, ask the insurance agent to see what kind of discount they offer for paperless billing.
What Are the Benefits of Paperless Billing for Me?
There are also plenty of benefits of paperless billing for customers that you won’t want to skip out on. Paperless billing makes paying your bill every month very easy, particularly if you sign up for autopay. You won’t have to deal with the hassle of mailing your payment every month, because you will be able to make the payment just by clicking a button. Paperless billing also reduces your chances of accidentally sending in a late payment and incurring unnecessary late fees.
In addition to paying your bills online, many companies allow you to file claims online and track your claim status. You’re also usually able to access all of your insurance documents and your insurance card online. Most insurance companies now have apps that you can use to access this information on your phone. This is very convenient when you are out and about and need to access your car insurance documents. Having everything online makes car insurance feel much more accessible and more transparent.
How Can I Sign up for Paperless Billing?
Most companies make it very easy to sign up for paperless billing. When you first get your insurance policy, tell your agent that you want to be enrolled in their paperless billing program. This means that you will receive all of your bills via email, and you’ll be able to pay them all on your insurance company’s website. Your agent will tell you how to go about signing up for paperless billing. In most cases, you’ll just need to go online and check a box on their website. However, some companies will require you to call them in order to set up paperless billing.
If you are in the middle of your policy period, check to see if you can still get a discount for switching to paperless billing. Some companies will only apply the discount if you sign up for paperless billing during your policy renewal period. Others will give you the discount if you sign up for paperless billing at any point. Some companies will also require you to sign up for autopay in order to receive the discount. This means that your premiums will automatically be charged to your bank account or credit card, and you won’t need to make a payment manually. Insurers prefer that their customers use autopay because it makes it easier for them to process your payments efficiently. If you sign up for autopay, you’ll need to make sure to have enough money in your account every month in order to avoid being charged late fees or having the payment bounce. If you continually miss payments, your insurer may cancel your coverage.
Are There Other Auto Insurance Discounts I Should Know About?
Paperless billing is just one way you can save money on your car insurance. Companies in New York offer a very wide range of car insurance discounts. The easiest way to save money on your car insurance is to maintain a good driving record. Insurers give large discounts for those who are historically good drivers because they are statistically less likely to get into accidents and file claims. Insurance companies also offer discounts for using safety devices on your vehicle, being a good student, or being a loyal customer. Some companies offer specific discounts for members of the military or members of certain professions. These are just a few of the many possible discounts you could qualify for. Be sure to ask car insurance companies about discounts when you sign up, as they can save you a significant amount of money over time.
Paperless billing is convenient and good for the environment, and it can also save you money. Be sure to ask your insurer about paperless billing right when you sign up, so you don’t miss a discount.