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Forgetting About Your Premiums
Unlike in the traditional method of buying a policy, when you purchase online, there is no agent to remind you about your due date for premium payment and renewal. Insurance companies may contact you via e-mails, text messages and phone calls as reminders, but it is your responsibility to ensure your premiums are paid in time. The best way to ensure you do not miss the payment date is to give a standing instruction of the renewal premium to the Insurance Company so that you do not miss the date. However, you need to ensure that you have sufficient funds in your account for this to work.
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Forgetting About
Unlike in traditional method of buying a policy, when you buy a policy online, there is no agent to remind you about your due date of making the renewal payment. Insurance companies do contact you via e-mails, text messages & phone calls to remind you about the due date, but do remember, ensuring that you pay the premium on time is your sole responsibility. Who notices those? Therefore, you are required to remember all the dates on your own and make the premiums and renewal payments on time so that the policy does not lapse. The best way to ensure you do not miss the payment date is to give a Standing Instruction of the renewal premium to the Insurance company so that you do not miss the date. However, you need to ensure that you have sufficient funds in your account for this to work.