Payment Plan Options & FEES

Quincy Mutual Group offers a payment plan option for all customers.

If you are a Massachusetts Auto Insurance Plan (MAIP) customer, please click here to view your payment plan options.
 

Payment Plan Options

 A. One Payment

This option is typically used for mortgage billed policies. Payment in full, due on effective day with no service charge.

B. Two Payments

Fifty percent (50%) due on effective day or with application. Second installment due in five (5) months.

C. Four Payments 

Twenty-five percent (25%) due on effective day or with application. Three additional equal installments of twenty-five percent  (25%) billed at 60 day intervals. 

D. Nine Payments

Twenty percent (20%) due on effective day or with application. Eight additional equal installments of ten percent (10%) billed at 30 day intervals.

Effective 04/01/19 and beyond, Massachusetts Personal Auto policies on a nine payment plan will renew to a ten payment plan. Ten installments of ten percent (10%) billed at 30 day intervals.

E. Ten Payments

This plan is available for Rhode Island personal auto policies. Fifteen percent (15%) due on effective day or with application. Nine additional installments. The first five installments of (9.44%) billed at 30 day intervals. The remaining four installments of (9.45%) billed at 30 day intervals.

EFT Payment Plans

These plans below are available to policies enrolled in Electronic Funds Transfer (EFT)

Twelve Payments  - For policies effective prior to 9/1/19

Installments will be spread evenly for the first year at 30 day intervals (this typically means 10 or 11 equal installments in the first year depending on the date the policy is issued). The minimum due is automatically deducted from your bank account on the due date or the first business day following the due date. Policies will renew to the EFT-12 Month Installment Plan.

EFT - 10 Pay Pick a Day – For policies effective 9/1/2019 and later
Ten installments of ten percent (10%) will be automatically deducted from your bank account.  A down payment of ten percent (10%) is due on the effective day or with the insurance policy application. Select a due day for EFT withdrawals (1-28). If the first installment is missed due to the policy issue date, we will maintain ten installments of ten percent (10%). If the first and the second installments are missed, the first invoice will be for twenty percent (20%), with the final installment due in the 11th month. This option is not currently available for Commercial Auto, Commercial Fire, Commercial Package policies.

EFT-12 Month Installment Plan - Beginning with policies effective 9/1/2019

Twelve installments automatically deducted from your bank account on the effective day or next business day of approximately 8.3%. If new business is entered late or held for underwriting approval, it will include any missed installments in the first invoice. Renewal policies will be billed in 12 equal installments. This option is available for all lines of business.

Payment Plan Charges

Are you signed up for E-Bill? Are you signed up for EFT? Your Installment Charge is:
Our best option, you pay $0.00 per installment fee.
You pay $2.00 per installment. Reduce this to $0.00 by signing up for EFT.
You pay $2.00 per installment. Reduce this to $0.00 by signing up for E-Bill.
You pay $5.00 per installment. Reduce this to $0.00 by signing up for EFT and E-Bill.
For our MAIP customers
Click here. 
 

FEES

Insufficient Funds and Late Payments

Insufficient Funds Processing

Checks and electronic payments not honored by a financial institution are subject to a processing fee of $20.00. When a payment that reinstates a policy is not honored, we will rescind the notice of reinstatement and cancel the policy on the original date of cancellation. Please contact your Agent for additional information. 

Late Payment Fee

A late fee will be applied to the second and any subsequent Cancellation Pending Notice for each policy term.  

Fees: 

Rhode Island policies: $10.00

Massachusetts Auto policies: $25.00

All other policies: $20.00

Payment Plans for Massachusetts Auto Insurance Plan (MAIP) Customers

Payment Plan Options

A. One Payment

If you have been cancelled for non-payment during the last 2 years, 100 % down payment is required.

B. Ten Payments - New Business

Twenty-five percent (25%) due on effective day or with application. The first 3 installments of (8.34%) billed at 30 day intervals. The remaining 6 installments of (8.33%) billed at 30 day intervals. Eight dollar ($8.00) service charge per installment.

C. Ten Payments - Renewal Business

Twenty percent (20%) due on effective day or with application. The first 8 installments of (8.89%) billed at 30 day intervals. The remaining installment of (8.88%) billed at 30 day interval. Eight dollar ($8.00) service charge per installment.

 

EFT & EBill

MAIP policies are not eligible for EFT or for a reduction in service charges if enrolled in E-Bill. 

 

Insufficient Funds and Late Payments for MAIP Customers

Checks and electronic payments not honored by a financial institution are subject to a processing fee of $29.00. Future payments may require a Cashier's or Certified Check. When a payment that reinstated a policy is not honored, we will rescind the notice of reinstatement and cancel the policy on the original date of cancellation. Please contact your Agent for additional information. 

Late Payment Fee

A $29 late fee will be applied to the second any any future Cancellation Pending Notice for each policy term.