Services
Insurance
Loans
Repairs
Advice
About

How do I pay for my car insurance with electronic funds transfer?

I've heard EFT is fast, so it's my preferred payment method. How does it work when it comes to car insurance?

avatar
Shannon Martin · Updated on
Reviewed by Shannon Martin, Licensed Insurance Agent.
If you are not able to pay for the total amount of your auto insurance policy upfront, most carriers prefer for you to be enrolled in automatic payments. With autopay, you can set up EFT payments directly with your bank or use a credit or debit card.
Pro tip: One secret way to get
cheap car insurance
is to use EFT! Banks charge very little or nothing at all to enroll your checking account in autopay. Many insurance carriers pass these savings on to you by waiving the service fee.
Keep in mind: In some cases, debit and credit card companies charge insurance carriers a percentage of every amount processed on the card. This can result in a fee of up to $10 per payment, which can add up.
View full answer 
WHY YOU CAN TRUST JERRY
Jerry partners with more than 50 insurance companies, but our content is independently researched, written, and fact-checked by our team of editors and agents. We aren’t paid for reviews or other content.

Join 4M+ members in lowering their car insurance

Easiest way to compare and buy car insurance

√
No long forms
√
No spam or unwanted phone calls
√
Quotes from top insurance companies
Find insurance savings