Eight Car insurance discount that you may be missing
from Equifax Personal Finance Blog Insurance
“Electronic Funds Transfer (EFT) Discount. It’s a costly endeavor to maintain the billing department of a company. Why? Because many people pay late or don’t pay at all. As a result, policies may be canceled—and possibly then reinstated in the future. It takes a lot of paperwork and man-hours to update policies and keep the records current with both the agency and the Department of Motor Vehicles.
Automatic payments with an EFT reduce the potential for cancelation. The time saved in not having to send notices of cancelation and reinstatement, as well as phone calls to the customer service department, is extraordinary. Therefore, signing up for EFT may qualify you for a discount, as you’ll be saving your insurance company both time and money.
Paid in Full Discount. Again, billing is an expensive overhead that the insurance companies must maintain. If you have the financial resources to pay your premium in full for the policy period instead of making installment payments, the insurance company may reward you with a favorable discount.
Marital Discount. This is one of my favorite discounts! Read the entire article here Equifax Blog
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