The check's in the mail!
The economy is tough right now and the added pressure of the holiday season is right ahead of us. But did you know that chronic late payments to your insurance company can have severe consequences? Most of us think that the worse that can happen if we 
miss a payment is that the insurance company will add a late fee, but that is not always the case. If your policy actually cancels, some insurance companies may refuse to reinstate your coverage if you have a history of late payments. An insurance company could also refuse to offer you an installment plan and only provide you with coverage if you pay the entire premium in full. Ouch!
Now don’t get me wrong – we are only human and a missed payment can happen to anyone. A bill is misplaced, an illness occurs or some other distraction causes us to forget to make a payment. In that case, you will most likely receive a nonpayment notice along with a late fee. As long as your insurance company receives the payment before the date and hour on the legal notice of cancellation your coverage will remain in force. You only need to worry if you frequently make your payments after the original due date.
If you want to take some of the worry out of paying your bills consider signing up for EFT, electronic funds transfer, and let the insurance company do some of the work! On this billing plan the insurance company will deduct the amount of your payment directly from your checking account and you won’t have to write a check or mail in another payment. This will not only prevent a late payment but many insurance companies waive the standard installment fees so you could save a lot of money each year!
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