Reduce Your Insurance Billing Fees!

February 6, 2013 at 10:47 AM | Posted in Auto, Home, Insurance Policy, Personal Insurance | Leave a comment
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In this economy, every penny counts. If you are making installment payments on your auto or home policies, you are probably incurring a billing fee of $5 or more each month for an installment plan, which could add up to an additional $50 a year.

Here are some other billing options that could drastically reduce or totally eliminate your billing fees:

EFT (Electronic Fund Transfers) –

  • Payments come directly out of your checking account, usually on a date you specify.
  • Most companies do not charge any billing fees for EFT installments. There are some that will charge $1.00 each transfer.
  • Your payment will never be late so you will not incur any late fees.
  • You do not need to think about writing out a check or try to remember if your bill came in that month.

Pay in Full –

  • One annual payment with no installments, so there are no billing fees.
  • Most companies give you a discount off your policy for paying in full.

Depending on the company you are insured with, there may be quarterly payment options as well. The billing fee would be imposed 4 times a year rather than once a month for 10 months, resulting in an overall annual savings.

If you would like to see what billing options are available to you, please call Protector Group Insurance  at 888-850-9400.

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