How Should I Pay my Insurance Premium?

Did you know that there are several ways that you can make insurance payments?  Whether it be by cash, check, or automatic withdrawals from your bank account, your Wisconsin insurance agency is here to explain them all to you.

  • Most insurance companies have the option of making payments via an electronic funds transfer, or EFT.  This type of payment transfers funds from your bank account to the insurance company by using your bank account and routing numbers.  You can also set up automatic EFT payments, which automatically transfer your payments when they are due.  Automatic EFT payments will save you the hassle of remembering to make your payments, but you should always make sure you have enough money in your bank account before the payment is withdrawn.  Insufficient funds can lead to late payments and lapses in coverage.
  • Some companies allow payments to be made by credit or debit cards.  Most often, these payments are submitted securely on the company’s Web site, so your information will be safe.
  • You can also pay by check or cash.  Check payments can be mailed directly to your insurance company, or you can bring them in to one of our offices.  We will then either mail in your check or have you make the check out to us, and we will then pay the insurance company instantly out of our bank account.  We will also pay the company instantly out of our bank account if you bring in a cash payment to one of our offices.
  • Insurance companies offer several payment plans, ranging from monthly to quarterly to paying in full.  Most companies offer a discount for paying your full premium in one lump sum, so if you are looking to save money, pay your premium in full.

If you have any questions at all about your payments, call us or stop in one of our offices.  Our staff will help you decipher your bill and make sure your payment gets to the company on time.  We are here to help you, so don’t hesitate to contact us!

-Sam

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