The COVID-19 pandemic is well over a year old and many residents in Kitchener, Waterloo, and surrounding areas continue to adjust to their new normal.
Ontario, including Waterloo Region, entered its third lockdown, including a stay-at-home order as of April 8. This affects many service industries and retail jobs and continues to cause financial challenges and income uncertainty.
At Staebler Insurance, we understand the struggles that our clients are facing and want to make sure you are best informed about your options. It’s all part of the value you receive when you choose a broker for your insurance solutions. We’ve put together some of the most common ways we can help with a solution.
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Our Premium Financing is available to Staebler clients to help with premium obligations. By financing your insurance premiums you’re able to unlock those funds for other essentials and choose a repayment plan that works for you.
Full Pay vs Three Pay vs Monthly Payments
Some insurance companies offer the choice of breaking up your premium payments . Each company has a different policy for payment frequency so be sure to ask your broker for which options are available to you.
Flexible Payment Dates
Don’t forget to talk to your broker about changing your regular payment schedule to accommodate your financial situation. That way you can align the upcoming premium payment with your sources of income.
Important: Avoid NSF Payments
An (NSF) Non-Sufficient Fund) payment may have a significant impact on your premium. Insurance companies take NSF’s very seriously. Not only will you be forced to pay additional fees, but it may have an impact on your renewal! The cost for an NSF can be as muchas $50 per missed payment. s Your bank will also charge an additional fee for the returned payment. If you are aware that you will miss a payment, be sure to call your broker ahead of time to discuss options.
. As everyone’s situation is different, your broker is the best source of current information and payment options.
Additionally, premium rebates are determined by insurance companies and usually communicated directly with the insured. Staebler brokers continue to monitor the situation to ensure our clients receive the best coverage at the best possible rate.
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Staebler Insurance is a general insurance broker specializing in auto insurance, home insurance, small business and commercial insurance. Staebler brokers proudly serve Kitchener, Waterloo, Cambridge, Guelph, Stratford, Wellington County, Listowel, Fergus, Elora, and southern Ontario.