We understand that your insureds are the lifeblood of your organization, so COST works tirelessly each day to provide your insureds with the same great level of customer service that they receive from you. Your insureds have the ability to access their account information online at any time, or call our 24/7 phone support to make payments whenever they need. No registration is required for online access, enabling those who are less than “computer literate” to still get the information they need.
The night of initial booking of an account, our system creates access for the insured on a separate web site. We notify them of the availability of this system and how to access it via the initial information they receive after their contract goes live. This website displays payment history, including posting date and amount, current payment due data, and a link into our online payment module enabling the insured to make their payment at any time as well as selecting the option to receive their monthly billing statements via email (which can be set up at the time of quoting).
ALTERNATIVE FORMS OF PAYMENT
Your insureds can mail their premium finance payment to us for posting and processing, however we also offer the ability to accept alternative forms of payment via the online account system or phone support, including:
- One-Time ACH/EFT – a single debit from the borrower’s checking account
- Credit Card – a non-recurring debit from either a VISA or MasterCard
- Recurring ACH – a debit from the borrower’s checking account done on the payment due date or on a date of the insured’s choosing
You can choose to make any or all of these payment methods available to your insureds at no cost to you. Any fees charged by the bank or processing company are paid by the insured, but making these alternative payment methods available can be helpful in avoiding cancellation procedures on an account. For those policyholders without immediate access to the internet, alternative forms of payment offered can be made via phone.