You “Auto” Keep an Eye on It: Pros & Cons of Automatic Car Insurance Payments
You “Auto” Keep an Eye on It: Pros & Cons of Automatic Car Insurance Payments
Do you make your automobile insurance payments through a debit or credit card using an automatic payment system? “AutoPay”, as it is frequently called, is becoming increasing popular. In fact, recent surveys indicate that over a third of us, (35%) pay at least one bill through an auto pay system. There are some good reasons for this. There are also some things to be cautious about.
Here are some pros and cons of using auto pay for your car insurance and why you “auto” keep an eye on it.
Automatic Payment Pros
One of the most valuable reasons to sign up for automatic payment for your car insurance is that auto-pay usually comes with a discount. Making payments automatically can normally save a consumer the equivalent of a month’s payment or more over making individual payments “manually”.
Automatic payments eliminate the worry of forgetting a payment or making late payments. This is especially critical in automobile insurance. There is no need for postage or taking time each month to submit a payment online. For those ecologically minded, it saves on envelopes and fossil fuels used in mail trucks. Most automatic payment systems also allow you to select a payment date that is convenient for your budget.
Cons of Choosing Automatic Bill Pay
There are certainly benefits to making car insurance premium payments through an automatic bill payment system each month. There are, however, issues one should be aware of.
The biggest is perhaps, forgetting that an automatic payment will be made by check or credit card. This can lead to you exceeding your card’s limits, being overdrawn, or perhaps even having the payment rejected. This can create unneeded hassles and may cost you extra. Any savings achieved through auto-pay can quickly be spent through an overdraft fee.
Automatic payments are so seamless, drivers may often not pay attention to the amount of money they are being charged. Premiums may go up by only a dollar or two a month. Percentage-wise, however, those increases can be significant over time. Submitted payments manually keeps you better in touch with your expenses.
Auto-pay is just one way in which you can save money on your auto insurance. For others, please contact our independent insurance agents. They have the ability to shop multiple companies for the best rates for your circumstances. We look forward to assisting you.
Do you have questions about your insurance? Find an insurance agent near you with our Agent Finder
Search All Blogs
Search All Blogs
Read More Blogs
Unwrapping the Wiener: A Deep Dive into the History and Lore of the Hot Dog
Beyond the bun: Discover the surprising history, varieties, and enduring appeal of America’s favorite tubular treat.
The Untapped Power of Collaboration: Why Asking for Help Fuels Business Success
Stop going it alone! Discover how leveraging the expertise of others can relieve pressure and drive your business forward.
Navigating the Grandparenting Journey: Understanding Today’s Families
Grandparenting today: Learn key shifts in family dynamics to build stronger connections with your children and grandchildren.
Mapping Our Paths: The Fascinating Reasons Behind Our Road Networks
The story behind the asphalt: Explore the geographical, historical, and planning influences that shaped our modern road systems.
Neighborly Navigations: Resolving Disputes in Non-HOA Communities
No HOA, no problem? Learn how to navigate neighborly disputes effectively in communities without formal management.
Vintage Years of Vision: Four Times Hollywood Hit Cinematic Gold
Like fine wines, certain years in film history stand out for their exceptional quality and the enduring impact of the movies they produced. This article explores four such landmark years, presented chronologically, that many cinephiles consider to be among the greatest in cinematic history.
Green Means Growth: How Environmental Responsibility Can Boost Your Business
It might seem like a secondary concern when facing immediate business challenges, but embracing environmentally friendly practices can actually be a powerful strategy for improving sales, attracting top talent, strengthening your brand, and even saving money. This article explores the tangible benefits of going green for your company’s bottom line and long-term success.
The Forgotten Beauty: Unearthing the Story of the Volkswagen Karmann Ghia
Beyond the iconic Beetle and the groovy Microbus, Volkswagen produced a surprisingly elegant and often overlooked sports car: the Karmann Ghia. This article explores the history, design, and enduring appeal of this “poor man’s sportscar” that has become a sought-after collectible.
Peace of Mind at Home: Building Your Essential Supply Stockpile
Recent global events have highlighted the importance of being prepared for the unexpected. This article outlines key non-perishable food items and essential household supplies that every homeowner should keep on hand to ensure comfort, security, and resilience during unforeseen circumstances.
Faded Glory: Remembering the Sports That Once Ruled Our World
Remember when these sports were huge? Take a trip down memory lane with harness racing, bowling, boxing, and poker, and explore their shift in popularity.