Billing and payments
The carrier bills you and takes your payment; the office does not handle premium money. What the office does is set up the billing plan, fix it when it is wrong, and explain a bill that does not make sense.
Each carrier issues its own invoice and runs its own payment options. Some draft a bank account monthly, some take a card, some add an installment fee when the premium is paid in parts, and nearly all offer the choice of paying the term in full at a lower total. Which of those apply to your policy depends on the carrier, and the office can read the options off your policy.
Changes the office makes for you
- Switching between installment and paid-in-full billing at renewal.
- Changing the draft date or the bank account on file.
- Adding or removing a mortgage company or lienholder as the payer, which is common when a home policy is paid from escrow.
- Sorting out a bill that changed mid-term after a vehicle, driver or address change.
Late payments and cancellation
A missed payment triggers a notice from the carrier, and the notice states the date the policy cancels if payment has not arrived. Paying before that date normally keeps the policy in force without a break. Paying after it can mean a reinstatement with a lapse on record, or a new application at a new rate. If a notice arrives, call the office the same day; a lapse follows you into the rating history and costs more than the late payment did.
A bill that does not add up
Send a photo of the invoice and the office will explain each line.