Automatic Payment Options

The Cumberland Insurance Group is proud to offer automatic payment options to our valued customers. This service allows you to set up automatic premium withdrawals from your checking account. Some of the benefits of this service are avoiding late payments, no postage costs, convenient and secure payments, lower installment fees, and the peace of mind that your home, car, and business are always protected.

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Is my policy eligible for recurring automatic payments?

All direct bill policies are currently eligible for recurring automatic payments. Mortgagee bill or premium finance bill policies are not eligible for recurring automatic payments.


When can I enroll in the automatic payments program?

When your policy is up for renewal, you can enroll from the time you receive your renewal paperwork in the mail up until the effective date of your policy term. If your policy is a new business policy, you can enroll from the date your policy is issued up until the effective date of your policy term.

 


What are the available payment plan options for the automatic payments program?

We offer four payment plan options for the automatic payments program:

Annual: Premium Withdrawn in One Annual Installment

Semi-Annual: Premium Withdrawn in Two Semi-Annual Installments

Quarterly: Premium Withdrawn in Four Quarterly Installments

Twelve Pay Monthly: Premium Withdrawn in Twelve Monthly Installments

 


Will I be notified of each installment withdrawal?

After your enrollment is processed, you will receive one notice explaining future payment amounts and dates. If you select either the two or four pay payment plan options, you will receive a withdrawal reminder prior to each installment being withdrawn. If you provide your email address during the enrollment process, you will receive an email after each successful installment withdrawal.

In addition, each payment plan will receive a notice prior to the scheduled withdrawal if there is a change to the installment amount (endorsement or other premium-altering transaction).

 


Can I change the dates of my withdrawals?

Your installment withdrawal date is determined by the effective date of your policy. For example, a policy that is effective on January 5th will have each installment withdrawn on the 5th day of each month according to your selected payment plan. If your withdrawal date falls on a weekend or holiday, your payment will be withdrawn on the next business day. If your withdrawal date falls on the 29th, 30th, or 31st of the month, your payment will be withdrawn on the first business day of the following month.

 


What if my payment is returned due to insufficient funds?

If your payment is returned due to insufficient funds, a $15 insufficient funds charge will be applied to your account. You must replace the returned payment (including the insufficient funds charge) prior to the next scheduled withdrawal. If two or more of your payments are returned due to insufficient funds within a twelve month period, you will be ineligible to continue participating in the automatic payments program. You will only be eligible to re-enroll after twelve additional months have elapsed and your policy is within the enrollment window timeframe mentioned above.

 


Are there fees associated with participating in the automatic payments program?

A reduced installment fee of $1/installment will apply to each installment after the first one of each policy term. There are no other participation fees associated with the automatic payments program.

 


How will earned premium be withdrawn in the event my policy term is expired or cancelled?

Earned premium generated on an expired or cancelled policy term will be automatically withdrawn within 30 days of the expiration/cancellation date. A notice will be mailed prior to withdrawal.

 


How will my audit premium be withdrawn once my audit is completed?

Audit premium generated on auditable policies will be automatically withdrawn within 30 days of the completion of the audit process. A notice will be mailed prior to withdrawal. If the audit premium generated is more than $15,000, the audit premium will not be automatically withdrawn. An invoice will be mailed within 30 days of the completion of the audit process.

 


How do I update my checking account information?

To update your checking account information, please click here.

 


How do I terminate my participation in the automatic payments program?

To terminate your participation in the automatic payments program, please click here. Your enrollment termination must be received at least 5 business days prior to your scheduled withdrawal in order to be effective for that installment. Once your enrollment termination is processed, your policy will be endorsed to direct billed and will begin to receive invoices for each installment due. If your automatic payment plan is not available for direct bill policies, your payment plan assigned will be the one which most closely resembles your automatic payment plan.

 


What information do I need to enroll in the automatic payments program?

To enroll in the automatic payments program, you will need your policy symbol, policy number, policy module, and billing zip code. You will also need the bank routing number, account number, and name on the account from which you would like the payments withdrawn.

 


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Additional Questions? Please contact your agent or our Billing Service Department at

1-800-232-6992.

 

 

 


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