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Avoid Trouble When Insurance Premiums are Paid

onp-4The best way to avoid trouble with a missed insurance premium payment is to make sure they get paid on time. Thanks to technology there are some easy ways to make sure insurance premiums are paid without any hassles.

• Use electronic bill pay instead of mailing a check. Checks can get lost in the mail. Bill pay is faster and cheaper because you don’t have to pay for checks or a stamp. A big advantage to electronic bill paying is that you don’t have to send in any payment until the money is in your account. That way you can avoid the cost and hassle of bounced checks.

• Set up an automatic payment. Under this arrangement the premium comes out of your account on a specific date, perhaps the day after your payday. If you have a steady source of income, automatic payments can eliminate a lot of headaches and hassles.

80% of All Drivers Overpay for Insurance. Do You? Start Saving Now. • Pay your insurance premiums in advance. Simply pay a double premium payment once or twice a year. That way you will always have one premium payment covered. Check with your insurance company before you do this in order to make sure it is allowed. Not every company lets you do this.

• Buy insurance in advance. Some kinds of insurance such as life insurance can be purchased in advance. It is also possible to buy a year’s worth of health or car insurance at a time. If you have the money this can make life a lot easier than making a premium payment every month and you’ll usually save a few dollars for doing so with most insurance companies.

Missing an insurance payment can be a hassle but it is not automatically a catastrophe. If you move quickly you should be able to correct the problem and preserve your coverage for all sorts of insurance.