Insurance Companies Offer an Annual Paperless Auto Discount
As insurance companies search for ways to deliver products and value, the internet offers an efficient solution to reducing costs. By easing communication and reducing the amount of paper flowing between the insured, the agent, and the company, real savings are being generated. They then pass those savings on to you in the form of a paperless auto discount.
Anyone who has had an auto insurance can attest to the amount of paper that flows back and forth to handle normal changes to a policy. By adding a user portal to the insurance company’s website, an insured’s changes can be handled online. This reduces the handling costs and the processing time for the company. In addition to resolving policy changes efficiently and at a reduced cost, insurance companies have implemented methods for paperless billing.
By using insurance company websites and customer portals, most companies now offer a paperless billing or paperless policy option. This means that you will receive your premium statement by email or by accessing a secure portal online. Then, there will be an option to either pay over the website, by phone using a credit card, or through an automatic withdrawal from your banking account. The paperless policy option allows you to view your policy online. Many companies are offering a discount to any insured who takes advantage of these paperless options. That discount can easily amount to hundreds of dollars in single a policy term.
In fact, insurance companies may offer you a variety of discounts based on these paperless payment options. If you opt to have your bills sent to you via email or through the company website, then you may receive a paperless billing discount. It costs the insurance company more money to print out your bill and have it sent to you by mail. They may reward you with a discount if you allow them to forego this costly process and have your bill sent electronically.
Another way to reduce paper and receive an insurance discount is to pay your bill over the phone. This way, you won’t have to write out a check, find a stamp, and keep your fingers crossed that your independent insurance agent received your payment in the mail. Instead, all you have to do is call your agent and provide them with your credit card number, the card’s expiration date, and the CVV code on the back of the card. You can repeat this process every time you have a policy premium payment due.
Insurance companies may also offer an automatic payment discount. This requires even less work and effort than paying by phone. The insurance company will automatically take the necessary amount of money out of your bank account when your premium is due. This means convenience for you and your insurance company. To have this set up, all you need to provide your agent with is your bank’s name, your bank account number and routing number. You only need to provide this information to them before your first automatic payment. This also helps to reduce the amount of paper being mailed back and forth between you and your agent. It will also prevent any gaps in insurance coverage that may happen if your bill isn’t paid on time. The payment is automatic, so you will have worry-free coverage.
Besides the discounts, companies are able to add valuable bonus features to their website portal, such as online claim tips, online car appraisals, and online storage of inventory records, just to name a few.
By working closely with the insured and providing an additional way to communicate, insurance companies are reducing cost and sharing those savings.
Your independent agent is your best source to identify the companies in your area that offer the best savings. His or her expertise can help you find the right insurance at a reasonable price.
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