How does the installment plan work?
Under the installment plan we will bill you for premium due on your policy, plus a service fee. You may also pay any amount between the minimum due and the total balance.
How does a change processed on my policy affect my current bill due?
Any premium adjustment due to insurance policy changes will be reflected in subsequent billings.
What if my policy is canceled?
If your policy is canceled, the unearned premium, if any, will be applied against any unpaid balance. If no balance is remaining, any unused premium will be returned to you.
Can I change the due date of my bill?
No, all due dates are based on the effective date of your policy, due each month until paid in full, according to your payment plan.
What if I pay less than the minimum due required on my bill?
Lack of sufficient payment or late payments will alter your payment plan and may result in a notice of cancellation being issued.
What if my payment is late?
A notice of cancellation will be issued if payment is not received by the due date of the bill. A late fee may be assessed if payment is received after the due date. Late payments may alter your payment
plan.
What if my check is returned by the bank?
A service charge will be assessed on all returned checks.
What do I do if I receive my billing statement and the premium should be paid by my mortgage company?
Please note that the billing due date will not change. You need to send the bill to your mortgage company and advise them to send a mortgage clause to us and we will make the necessary changes.
Where do I send my payment?
The billing address is:
Preferred Mutual Insurance Company
P.O. Box 888
Norwich, NY 13815
When is my bill due?
Installment payments are due on the effective date of your policy.