Do you accept premium-financed checks, or do you have a payment plan available?
No, we do not accept premium-financed checks, nor (due to the generally low cost of this insurance) do we have a payment plan available. For your clients’ convenience, we bill renewals 45 days in advance of the renewal.
An insured neglected to mail in his renewal payment by the due date. What should I have him do?
To avoid any interruptions in coverage, we ask that renewals be paid 15 days prior to the renewal date. We do have a 30-day grace period (# of days vary in AZ, NY, and TX) but payment must be accompanied with a signed letter, attesting that there have been no losses. If the renewal balance is 30 days past due, you would have to re-write the risk, which would involve completing a new application, updated photos, and the premium in full..
