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Understanding Your Pay Plan

Please note that most policies default to the 4-Pay plan but not all. All policies which are set up on pay plans and consist of more than one payment (other than EFT) will be charged one $5 installment fee for each installment after the first payment. If you have questions regarding this, please contact your agent.

4-Pay Plans:

Please refer to the following information based on what SYM your policy number begins with to obtain the correct information.

  • ART: Your payments are billed 60 days apart for a total of 4 payments.

    Example: If your policy begins on January 1st, you will have payments due on January 1st, March 1st, May 1st, and July 1st

  • BOP, ULC, CPP, GLP, and CFP: Your payments are billed 75 days apart for a total of 4 payments.

    Example: If your policy begins on January 1st, you will have payments due on January 1st, March 17th, May 31st, and August 14th

  • HOP, LLP, RLP, BOT, DFP, IMP, MHP, and ULP: Your payments are billed 90 days apart for a total of 4 payments.

    Example: If your policy begins on January 1st, you will have payments due on January 1st, April 1st, July 1st, and October 1st

EFT (EZ-Pay):

  • EFT pay plans are set up with Utica First to automatically withdraw from a checking or savings account. All EFT payments will be processed monthly on the effective day of the policy (i.e.: a policy effective as of 10/8/2013 will have payments processed on the 8th of each month). If the withdraw day falls on a non-business day, the payment will be drawn on the next business day.
  • The insured will be notified when payments are to begin and if the withdraw amount changes by more than $5.

1-Pay Plans:

  • 1-Pay plans are universal with each type of policy. The payment is due in full on the effective date of the policy each year.

2-Pay Plans:

  • 2-Pay plans are universal with each type of policy. The first payment (50%) is due on the effective date of the policy. The second payment (50%) is due 6 months after the effective date.

Mortgagee Billed:

  • Mortgagee billed policies are policies in which the mortgage company makes the payment on the policy. They are to pay the policy in full on the effective date of the policy.