Personal Lines Billing Plan Descriptions

Annual Policies

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

 

12 Month Policies

Line of Business Prefix

Annual One-Pay

Four-Pay

Monthly 11 Bills

EFT 12 W/D

Bill Other One-Pay

Bill Other Four-Pay

Escrow Billed

Homeowner

HO, HC, HT, HM

X

X

X

X

X

 

X

Personal Umbrella

UP

X

X

X

X

X

 

 

Dwelling Property

DP

X

X

X

X

X

 

X

Personal Auto

PA

X

X

X

X

X

X

 

 

 

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 three months/25% down.
  • 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  • Upon renewal, 12 equal installments are withdrawn on the policy anniversary date.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)

6 Month Policies

Line of Business

One-Pay

Two-Pay

Monthly 5 Bills

EFT 6 W/D

Personal Auto

PA

X

X

X

X

 

 

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.