Commercial Payment Plans

Quarterly and semi-annual payment plan options are available.  If you are eligible for and elect a payment plan, your invoice will reflect the exact amount due for installment payments on your policy.

Installment amounts are calculated based on your total policy premium. One time fees, such as inspection fees, installment fees and EMPA fees are not included in your installment calculation. With the exception of installment fess, which are due with each installment, any one-time fees are due by the policy issuance or effective date, whichever is sooner, and will be added to your first installment payment. 


Semiannual Payment Plan



First Installment

  • 60 percent of total policy premium
  • Any applicable inspection or other one-time fees
  • Due by policy effective date or the date of issuance, whichever is sooner


Second Installment

  • 40 percent of total policy premium, plus 4 percent of installment
  • Due six months after policy effective date



Quarterly Payment Plan



First Installment

  • 40 percent of total policy premium
  • Any applicable inspection or other one-time fees
  • Due by policy effective date or date of issuance, whichever is sooner


Second Installment

  • 20 percent of the total policy premium
  • 4 percent of installment
  • Due three months after policy effective date


Third Installment

  • 20 percent of the total policy premium
  • 4 percent of installment
  • Due six months after policy effective date 


Fourth Installment

  • 20 percent of the total policy premium
  • 4 percent of installment
  • Due nine months after policy effective date

Availability and Fees
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Commercial policyholders who pay their premiums directly to Citizens can pay their premiums in full as a one-time payment or may take advantage of Citizens’ semi-annual and quarterly payment plan options. Mortgage companies, lienholders and premium finance companies are not eligible for payment plans.



Fees

There is no fee for premium payments made in full and on time.

Commercial policies paid via payment plans are subject to the following fees:

  • After the first installment payment, commercial policies are charged 4 percent interest per scheduled installment.
  • Total interest will not exceed approximately 8.5 percent simple interest per year on the unpaid balance.