Installment Plans | Preferred Mutual

Installment plans make it easier to manage your monthly expenses, because you can pay your premium over time. With an installment plan, you are billed for the premium due on your policy, plus a service fee.

Sign up for paperless billing on MYPreferred and receive text and/or email notifications when payment is due.

To set up one of the following installment plans, please contact your independent agent.

Personal Insurance*

Pay your premium in full, or choose from the following payment plans:

9-Payment Plan (20% down with 8 installments at 10% of total premium) Massachusetts Personal Auto Only
10-Payment Plan (10 equal installments of 10% of total premium)
Quarterly Payment Plan (4 equal installments of 25% of total premium)

Business/Commercial Insurance*

Pay your premium in full, or choose from the following payment plans:

Quarterly Payment Plan (25% down + 3 installments of 25% of total premium)

8 - Payment Plan (30% down with 7 installments of 10% of total premium for new policies; 8 equal installments of 12.5% for renewals.)

10 - Payment Plan (10% down + 9 installments of 10% of total premium)

*$10 minimum invoice amount. Number of installments will vary based upon minimum invoice amount.

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