Paying for your Auto Insurance Coverage

The current economic climate has led to an increase in the number of drivers who operate their vehicles without having adequate auto insurance coverage in place. In the past year, the number of uninsured motorists on US roads and highways has almost doubled and an estimated 20% of all drivers are currently failing to carry adequate protection. Industry experts believe that affordability is one of the key factors behind these latest trends. However, many auto insurance companies are now adjusting their payment options to help alleviate this ongoing problem.

Paying Online

A growing number of auto insurance carriers are using the internet as a means of providing customers with an extra method of making payments. As well as taking credit card payments, many of these companies now have PayPal integrated into their websites.

Telephone Payments

Postage costs can be easily waived by calling your auto insurance company and making payments over the telephone using a valid credit card.

Installments

The cost of an auto insurance policy can be broken down and spread into smaller, monthly payments. Although an additional interest charge will usually be applied to monthly payments, this particular method is a great alternative to paying a premium in a single lump sum.

Direct Transfer

Rather than having to remember a scheduled payment date each month, direct transfers allow your installments to be paid automatically from your bank account on a predefined due date until the full cost of an auto insurance policy has been covered.