Most people like a Payment Plan because of the easy monthly payments. We hope you do too! To help you get started, here are answers to some Frequently Asked Questions you may have:
Q: Will my monthly payments always be the same?
A: No. We change the monthly amount due when the cost of your insurance changes. If the cost goes up, we will spread the change over future billings. If it goes down, any credit will be used on the following bill to reduce the amount due.
A: The best thing to do is to go ahead and pay the amount billed. We will give you credit for the overpayment on your next billing. If you prefer, you can pay the amount you think is right, but please, tell us why in a note with your payment. Or, you can contact us for help.
A: We offer a plan where your monthly amount due is taken directly out of your bank account. It's called the "preauthorized payment plan". With this plan you will receive a billing notice when the monthly amount due changes. You can select your own due date.
A: Yes! We will provide Insurance protection for the extra amount paid. We will send a billing notice letting you know of the lower amount due or nothing due.
A: Yes! Policies may be added at any time. We will help you with this.
A: It is very important to pay on time. If you do not make your payment by the due date you will be sent a cancellation notice with the date your coverage will end. If we receive your payment before the cancellation date, your policies will be continued. However, if you are sent a cancellation notice three times in any 12 month period, we can no longer offer the monthly payment plan to you.
A: Certainly. You can stop your payment with 15 days notice to us.
Here is a sample explanation of your Payment Plan notice:
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1: The POLICIES ON ACCOUNT section shows all policies currently on your account and each monthly premium . 2: The CURRENT CHANGES section shows premium adjustments resulting from policy changes, additions or removals. 3: The BILLING SUMMARY gives you a breakdown of the TOTAL AMOUNT DUE.
(the graphic is difficult to read, but content is not important here, it is just a guide to help you read your own statement.) |
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Upon cancellation prior to the end of any period for which premiums have been paid, you will be refunded (or credit this account) any unearned premium in accordance with the provisions of each policy.
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