deferred premium payable in instalments later in the year fall due for immediate sett

W

walshbernie2

Guest
Some months ago we placed a claim with our insurance company, we were paying our premium in Installments over 8 months. when we placed the claim we had 2 instalments left to pay, the item we had insured was a total loss. We have been informed that deferred premium payable in instalments later in the year fall due for immediate settlement and these are usually collected by way of offset at the time the claim is paid.
Is this correct anyone any thoughts
 
Re: Insurance Query

Premium payments to general insurance companies by monthly Direct Debit are generally loans. Terms and conditions differ between companies. Check the terms and conditions of your premium payment scheme. If you don't have a copy, the insurance company should be able to give you one.
 
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