Is a down payment only charged when signing up for the policy or will it be charged every time the policy renews? I got quoted for $150 a month but the company, Traveller’s, requires a $750 down payment. Thanks. Down payment byu/Wild_Class7979 inInsurance Posted by Wild_Class7979
Pappilon5090 on May 24, 2024 7:11 pm Different companies bill differently. But with every company I write for, you only have the down payment when starting the policy.
assflea on May 24, 2024 7:16 pm When it renews it’ll just be 6 or 12 payments split evenly (plus whatever fees for method of payment), the down payment is just that.
Alternative-Cash6053 on May 24, 2024 7:29 pm The down payment is typically charged when initially signing up for the policy. It’s not charged each time the policy renews.
3 Comments
Different companies bill differently. But with every company I write for, you only have the down payment when starting the policy.
When it renews it’ll just be 6 or 12 payments split evenly (plus whatever fees for method of payment), the down payment is just that.
The down payment is typically charged when initially signing up for the policy. It’s not charged each time the policy renews.