Insurance Policy Management, Billing & Premium Payments 101

Insurance Policy Management, Billing & Premium Payments Just Got Easier

Paying the bills is probably everybody’s least favorite time (and task) of the month. You may have to sit down on the phone with a giant stack of paper bills, call all of the services you have to pay to, deal with the frustration of the automated robot call system, and often sit on hold for 10 to 15 minutes just to pay a simple bill.

Does this sound familiar? Well, this article is definitely made for you, then! 

If you haven't done so yet and are looking for ways to simplify insurance bill pay time and you’re tired of doing things the slow, old-fashioned way, then we’ve got just the solution for you. Almost all modern insurance companies allow you to create an online account where you can easily manage your policies and billing. They may even offer a smartphone app that you can download so you can pay from your phone when you're on the go. Talk about simple, right? 

Below, we’re going to give you the full breakdown on how to register for an online account, manage your policies, set billing, make payments, and also give you some other helpful tips on managing your insurance policies and making your life easier. 

How to Manage Your Policies Online 

Although some people may be a bit wary of putting all of their personal insurance information on the internet, we assure you that as long as you're buying from a trusted insurance company site, you are 100% secure. All insurance company sites are protected by SSL (secure sockets layer), which keeps all of your data and information secure while you’re using your online account. Basically, it keeps hackers from being able to steal your information, so you can make online payments and adjust your policy with complete confidence. 

Here’s how to get started managing your policies online. 

Create an Online Account With Your Insurance Company

Your first step is going to be creating your online account. Just because you have an insurance policy doesn’t mean that you necessarily have an account, so you’ll usually need to create one. To do this, you’ll need to visit your insurer’s website, navigate to the ‘login’ area, and select ‘create an account’ or ‘sign up.’ 

This should direct you to a window where you’ll be asked to provide your insurance policy number, an email address and set up your new account with your email and password. Once you’ve registered your account, you can log in through your computer and view all of the information you need on your policies. 

You can print out your insurance cards, read all of the details, and you can even modify your policy. Instead of having to wait on the phone for 45 minutes to speak with an agent, you can add a new vehicle, upgrade your insurance, or add a driver directly from your online account and save plenty of time.

Download the App on Your Smartphone

Once you create your online account, you’ll also be able to download an app from your insurance company on your Android or Apple smartphone. Once you download the app, sign in using the same login information from your online account. The smartphone app will allow you to view your policies, provide you with digital insurance cards (in case you get pulled over or are involved in an accident), and even allow you to call roadside assistance! 

Set Monthly Payment Reminders

Once you set up your smartphone app, you’ll be able to set monthly payment reminders on your phone that will remind you every time that your monthly premium payment is coming up. This ensures that you’ll never miss a single payment and that your insurance is always up to date.

How to Pay Premiums Online

So, now that you’ve got your account all set up, you’re probably wondering how to start making payments online! Here’s how to pay premiums online with your insurance account. 

Save Your Credit or Debit Card Information on Your Account

After you’ve gotten your online insurance account set up, you can go into the settings and find a tab that says ‘billing’ or ‘payment methods.’ There, you’ll be able to save your credit card, debit card, or bank information that you will use to make your monthly payments. Every time that the bill comes up, just sign in to your account or app, select the policy that you want to pay, and confirm how much you want to pay towards it. 

Set up Auto-Draft Payments so You Never Miss a Payment

If you want to make your life even simpler, you can also set up auto-drafting payments for your insurance policies. You can do this in the app or through your online account. The option to set up auto-drafting payments will usually be under the ‘billing’ area of the app. Some insurers even offer discounts for opting in for auto-draft payments, making your insurance even more affordable. 

Helpful Tips to Manage Your Insurance Policies

Setting up your online account for your insurance policies is a great first step to simplifying your bills, saving money, and ensuring that you don’t miss any payments in the future. Since we’re on the topic, though, we figured that we’d go ahead and give you some other helpful tips for managing your insurance policies and simplifying your life! 

Bundle Your Policies Together

One of the best ways to simplify your billing is to bundle your policies together! Most insurers provide numerous forms of property insurance and allow you to bundle homeowner’s insurance, auto insurance, motorcycle insurance, and even renter’s insurance into one affordable policy. In addition to simplifying your payments, most insurers also provide drivers with a considerable discount for bundling policies! 

Check if Your Insurer has a Driver’s Tracking App for Extra Savings

Another great way to save money on your insurance (and keep track of your own driving habits) is to check if your car insurance provider offers a tracking app. While it may sound a bit invasive for some, the app can save you money. Essentially, it tracks your daily driving habits, calculates how many miles you drive, whether or not you’re speeding, and what times of day that you drive the most. Some people can end up saving a good bit of money, especially if they’re safe drivers or they don’t put a lot of miles on their vehicles.