To:
All Agents
RE:
Implementation of 2020 Fee Changes
DATE:
March 9, 2020
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Effective April 1st,
we will be implementing the previously announced billing fee updates. As a reminder, due to increasing costs with our banking and credit card fees, we are implementing the following fee changes:
Installment Plans
The fee for premium installments is rising modestly from $5 per installment to
$6
per installment.
Late Payments
Payments received after the due date will incur a
$10
late fee. This late fee is due and payable upon receipt and acceptance of the late payment. Please remember, Loudoun Mutual is under no obligation to accept payments that are received after the due date.
Reinstatement Fees
Policies which are reinstated after being cancelled for nonpayment of premium will incur a “reinstatement fee” of
$15
. This fee will be in addition to any fees incurred for checks returned from the bank for any reason and the aforementioned Late Payment Fee.
Thank you for your understanding and we appreciate your continued support.
Christopher G. Shipe, President/CEO
Loudoun Mutual Insurance Company
