Personal Lines Billing Plan Descriptions

Annual Policies

(Homeowner, Personal Umbrella, Dwelling Property & Personal Auto)

Annual One-Pay

• Use this option if the total policy premium will be paid in full.
• New business policies require two months down.
  • A bill for the balance will be sent upon policy issuance, if it was not paid in full.
• Renewal policies require the full premium on the renewal date.
• No service charges are applied.

Four-Pay (not quarterly)

• New business policies require two months down.
  • 3 months is suggested to avoid an extra bill.
• Renewal policies require 25% of the premium on the renewal date.
• Additional payments of 25% of the policy premium are due 60 days apart (For example, a policy issued January 1st with three months down will have bills due March 1st, May 1st, and July 1st.)
• A $7.00 service charge applies to each additional installment billing after the new business or renewal down payment.
• The total unpaid balance can be paid in full at any time.

Monthly (Eleven Payments)

• New business policies and renewal policies require two months down.
• Ten additional installments are due on the policy anniversary date.
  • There is no payment due in the last month of the policy term.
• A $7.00 service charge applies to each additional installment billing after the down payment.
• The total unpaid balance can be paid in full at any time.

EFT Monthly

• New business policies require one month down.
  • If one month is paid of the verified premium, eleven more payments will be billed beginning the 2nd month of the policy term until renewal.
  • A withdrawal notice will be sent 12 days prior to the first withdrawal.
    • Subsequent withdrawal notices will only be sent if the premium due changes by more than $1.00.
• No service charges are applied.
• The withdrawal date must be the same day of the month as the policy effective date.
• Upon renewal, 12 equal installments are withdrawn on the policy anniversary date.
  • If the policy anniversary date is the 29th, 30th, or 31st of the month, the withdrawal will occur on the 1st of the following month.
  • If the withdrawal date is not a business day, the withdrawal will occur on the following business day.

Escrow

• The mortgage company will be billed the full premium for new business and on each renewal.
• The insured will not receive a copy of the billing notice, but will receive a notice of pending cancellation if the mortgagee has not paid the premium by the due date.

Personal Lines Billing Plan Descriptions 

6 Month Policies

(Personal Auto)

One-Pay

• Use this option if the total policy premium will be paid in full.
• New business policies require one months down.
• Renewal policies require the full premium on the renewal date.
• No service charges are applied.

Two-Pay

• Use this option if the total policy premium will be paid in two payments.
• New business policies require two months down.
  • 3 months is suggested to avoid an extra bill.
• Renewal policies require one half of the premium on the renewal date.
• The second payment is due 60 days after the effective date or renewal date.
• A $7.00 service charge applies to the second installment billing.
• The total unpaid balance can be paid in full at any time.

Monthly (Five Payments)

• New business policies and renewal policies require two months down.
• Four additional payments are due on the policy anniversary date.
• There is no payment due in the last month of the policy term.
• A $7.00 service charge applies to each additional installment billing after the down payment.
• The total unpaid balance can be paid in full at any time.

EFT Monthly

• New business policies require one month down.
  • If one month is paid of the verified premium, five more payments will be billed beginning the 2nd month of the policy term until renewal.
  • A withdrawal notice will be sent 12 days prior to the first withdrawal.
    • Subsequent withdrawal notices will only be sent if the premium due changes by more than $1.00.
• No service charges are applied.
• The withdrawal date must be the same day of the month as the policy effective date.
• Upon renewal, 6 equal installments are withdrawn on the policy anniversary date.
  • If the policy anniversary date is the 29th, 30th, or 31st of the month, the withdrawal will occur on the 1st of the following month.
  • If the withdrawal date is not a business day, the withdrawal will occur on the following business day.