Paperless and Auto Billing Discount: How Much Can You Save?
Qualifying for a paperless and auto billing discount on auto insurance can you save up to 10% on your monthly bill. Paperless billing and AutoPay auto insurance discounts can also be stacked with on-time payment discounts when you pay your car insurance with a checking account. Don't forget to ask about other payment-based discounts when comparing auto insurance quotes online.
- You can set up a paperless and auto billing discount on your auto insurance in three ways, and it’s easy
- In some cases, you can get a discount on automatic billing or by going paperless, but many insurance companies will only apply their discounts when you do both
- Setting up AutoPay and electronic billing gives you the added layer of convenience, and it guarantees that your payments are on time
What is a paperless and auto billing discount on auto insurance? As the name suggests, this is a way to save if you opt to receive your billing information electronically and set up automatic payments.
You may be used to getting a paperless and auto billing discount with your phone or cable company. You may save $10 each month with AT&T or Verizon (Fios), but several top auto insurance companies also offer a paperless and auto billing auto insurance discount.
Insurance companies don’t always advertise all their discounts, and you should ask about all the discounts you qualify for to lower your yearly auto insurance rates. Besides paperless billing and AutoPay discounts, there are many other ways to save.
Read on to learn more about how you can qualify for a paperless and auto billing discount on your auto insurance and why going paperless is beneficial in other ways.
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Which auto insurance companies offer the best paperless and auto billing discounts?
Here are some of the top auto insurance companies offering paperless billing and AutoPay discounts:
|Company||Paperless Discount||Automatic Billing Discount|
|Allstate||Up to 10%||Varies; up to 5% in some states|
|GEICO||None||Savings on installment fees|
|Nationwide||Varies||One-time discount, amount not specified|
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As you can see, there is no GEICO paperless discount, and drivers qualify for minimal savings when setting up automatic billing with GEICO. On the other end of the spectrum, you can save up to 10%-15% with Allstate if you opt to use paperless and auto billing.
Always comparison shop with multiple companies to see which are the best auto insurance companies for paperless and auto billing discounts in your area.
How can you get a paperless and auto billing discount on auto insurance?
It depends on your auto insurance company, but you can easily qualify for this discount when you set up AutoPay and paperless billing. Some companies may reward you for doing one of those things, but others give discounts for both.
You may need to ask about paperless billing and AutoPay insurance discounts, but they are often automatically applied when you pay your car insurance with a checking account.
There are three ways in which you can sign up for paperless and auto billing:
- Set up paperless and auto billing at sign-up: Your agent will ask you if you want to go paperless or make automatic payments when you sign up for a new auto insurance policy.
- Call an agent after sign-up: You can set up paperless and auto billing for your car insurance at any time with most insurers, and some companies may require you to call to update your billing information.
- Create an online account on your insurer’s website and change your billing options: Once you log in, select “AutoPay” under the Billing Information tab. You can then go paperless by selecting that option under “Statements.”
Often, you will need to set up AutoPay first and utilize both paperless and auto billing to receive the discount.
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What are the advantages of paperless and auto billing?
When you sign up for AutoPay, your insurance company will take your monthly and annual payments directly from your bank account; you do not have to make payments yourself.
That saves your insurance company on overhead and paper use, and they pass some of these savings onto you.
These are other advantages of opting for paperless billing for your car insurance:
- Your insurance company will send your billing statements through your phone or via email.
- You can access all your insurance information online, including your proof of insurance.
- If your insurance company offers a mobile app, you may show your proof of insurance that way.
However, your insurance company may still give you the option of printing out your insurance cards.
In short, setting up AutoPay and electronic billing is mutually beneficial: You have the added convenience since you won’t have to search through paperwork or manually make payments each month, and your car insurance company saves in administrative costs.
What are some other auto insurance discounts to ask for right now?
Think about getting as many discounts as your auto insurance company offers, including multi-policy, multi-car, and passive restraint discounts. Many auto insurance companies also stack their discounts, give drivers the chance to tack on the savings.
However, auto insurance discounts are not the only way to lower your auto insurance rates. Here are some other ways to save based on your auto insurance payment options:
- Buy your insurance early: You have about 29 days to make a payment on your auto insurance before renewal, and this is the best time to do so. As you get closer to your insurance renewal date, the rate will inevitably increase.
- Pay in full: Don’t forget to ask about a pay-in-full discount. You can get a 5%-10% discount for making biannual or annual payments. When you make monthly payments, you are paying interest anyway.
- Pay on time: Not only is it a bad idea to delay payments for auto insurance in terms of credit and cancellation, but you can lose out on extra savings. With auto billing, you can avoid late payments, and your car insurance company will reward you.
Additionally, your auto insurance provider may reward you for loyalty. Either you will receive rewards, like frequent flyer miles or discounts on other products, or you will see a noticeable decrease in your auto insurance rates.
Paperless and Auto Billing Discounts: The Bottom Line
Drivers can save up to 10% with a paperless and auto billing car insurance discount. Paperless billing also comes with the added benefit of convenience. You can access your billing information in one place, guarantee on-time payments, and possibly stack on an on-time payments discount.
The easiest way to find the best discount auto insurance is to compare multiple companies online. Enter your ZIP code below to get free auto insurance quotes from local auto insurance companies with paperless and auto billing discounts.