At OAMIC, we’re committed to providing you with the flexibility you need for your policy premium payments. We’ve made some fantastic changes to our payment options for both new and renewal policies:
Flexible Payment Options
- Pay in Full:
Enjoy the simplicity of one upfront payment with no future reminders. This can be done online or by mail. - Installment Plans:
We’ve simplified our installment options for your convenience:- ACH (Bank Draft) Installment Plan:
Make an easy 20% down payment online or by mail, and the rest will be automatically deducted from your bank account. There’s no hassle and no late payment worries! The 4 remaining installments of 20% each will be deducted on the scheduled dates that are 60 days apart from each other. - Standard Installment Plan:
After you make a 20% down payment, you’ll receive invoices for each installment due. It will be up to you to make the payment online or by mailing a check. The 4 remaining installments of 20% each will be deducted on the scheduled dates that are 60 days apart from each other.
- ACH (Bank Draft) Installment Plan:
Endorsements and Policy Changes
If you make changes to your policy, such as adding or removing a lawyer, the balance will be incorporated into your existing plan. That means that if you chose an installment plan, any new premium from an endorsement will be split across your remaining payments.
If you do not have an existing balance prior to the addition of any endorsement, that additional premiums will be due in full. Please note, ERE (tail coverage) premiums have special considerations – reach out for more details!
Additional Payment Enhancements
- We’re thrilled to announce that all payment plans are now zero percent interest! Choose the plan that works best for you without any extra cost.
- Please note, a 3% convenience fee applies to credit or debit card payments.
- You can now also use e-check through the OAMIC Portal for added ease. This option allows you to make full payments, down payments, or installment payments without incurring any fees.
We’re Here for You
If you have any questions about your payment options or need assistance, please don’t hesitate to contact us. We’re here to help you!
Author
On the OAMIC team since 2005, Isaac now serves as vice president, director of operations. He is a licensed insurance producer with two bachelor’s degrees from the University of Oklahoma. Prior to his time at OAMIC, Isaac was part of the engineering team that developed banking software for some of the largest banks in the United States.