Beginning July 1, 2012, our Late Fee is increasing from $20 to $25 and our Non-Sufficient Funds (NSF) Fee is increasing from $20 to $25. We are implementing this change to counter rising processing fees and encourage premium payments via Electronic Funds Transfer (EFT) or Credit Card. 

Experience shows paying premiums via EFT or Credit Card creates a WIN-WIN scenario. Insurers and agents improve retention and avoid nonpayment problems and policyholders avoid the hassle and cost of writing and mailing checks.

The back of the invoice provides your customers with numerous payment options and our Rule and Rate Premium Billing Information Guide provides your agency with those options as well as additional billing features.    We encourage you to review the document and if you have any questions, please feel free to contact us. 

Here are some conveniences of paying via EFT:

• Policyholders may have premiums withdrawn from the checking or savings account of their choice
• Monthly payors may select the day of the month premiums are withdrawn—the 1st through the 28th
• Quarterly and semi-annual payors may choose a withdrawal date of the 1st or the 15th
• On recurring EFT,  a detailed schedule showing withdrawal dates and amounts is sent in advance
• INSTALLMENT FEES ARE WAIVED

 Here are some conveniences of paying via Credit Card or signing up for Recurring Credit Card Payments:

• Policyholders have the ability to earn credit card points
• Policyholders with accounts receivable delays can pay via credit card, yet make payment when funds are available
• Avoidance of NSF fees
• On recurring credit card, a detailed schedule showing dates and amounts is sent in advance