Hillcrest Agency Payment Questions
Timely payments are necessary to keep your insurance coverage in force. The insurance companies have due dates for payments that are strict, and will cancel policies if payments are not received.
There are several ways to pay the premium on your insurance policy:
Direct Bill – Most Personal and Commercial policies are set up on a Direct Bill basis, which means that the company sends billings directly to the insured. The insured then pays the company, or sets up EFT payments. The Agency does not get a copy of the billings, but we are able to help with payment issues if the client notifies us.
Agency Bill – Some Commercial policies are billed by Hillcrest Agency. The annual premium is usually due within 10 days of the billing date, depending on the inception of the policy.
Financing – Hillcrest Agency has 3 different finance companies that we can use for financing Commercial insurance policies. We offer monthly, quarterly and semi-annual installments. Once the finance agreement is set up, the finance company establishes due dates for payments. Late fees can be applicable for overdue payments, and the finance company has the right to cancel a policy for non-payment. If a policy is cancelled, the insurance company may reinstate the coverage after payment is made. The insurance company is not obligated to reinstate the policy; it is their choice. We encourage all clients to pay prior to cancellation dates to avoid policy cancellation or a lapse in coverage.