There are a variety of billing choices for almost all your personal lines insurance policies.  It is up to you to choose the one(s) that works best for you.  Most policies allow these options:

  • Full pay
  • Semi-Annual
  • Quarterly
  • Monthly

You may also choose the method of making your premium payment.  Electronic funds transfer (EFT) is easy to manage and removes the possibility of late pays.  Most companies also allow the insured to pay premiums on their website – either by credit card or a transfer from your bank account.

Typically, companies make no service charges for either semi-annual or full pay options.  There will frequently be small service charges added for quarterly or monthly options.  In addition, some companies offer very nice discounts for the “paid in full” option.

It is up to each insured to simply evaluate all the options – including payment frequency, method of payment as well as service charges – to arrive at the best plan for you.

We encourage you to communicate with your NAUGHT-NAUGHT AGENCY representative.  One of the services we offer every client is assistance in evaluating decisions of this nature.