Monthly Insurance Payments
Our monthly insurance payment option will help ease the burden that a yearly annual premium can bring. You can spread your annual insurance bill across twelve easy to manage monthly payments*, and still get all the protection you need for your home, contents, motor vehicle, caravan and boat.
If you choose to pay your insurance premium monthly, certain conditions will apply to your insurance cover, see details below or refer to the Product Disclosure Statement. All you need to do is phone 13 11 55 and provide your account details.
* Please note: The policy holder must be an authorised signatory on the nominated account
A fee applies if you choose to Pay by the Month. The fee is 15% of the premium for the period of insurance. Your monthly payment equals your premium plus this fee, divided by the number of months in the period of insurance.
Pay by the month Information
IMPORTANT - Keep this handy.
You might need to refer to the following information in the future. We recommend you keep it with your Certificate of Insurance. If you choose to pay your insurance monthly by Direct Debit, together with the terms and conditions contained in the Service Agreement apply:
- For new customers insurance cover will commence on and from the effective date and time shown on your Certificate of Insurance. The first deduction will draw from your nominated account 10 days after the inception date and then monthly on the anniversary of the inception date.
- For customers who are renewing their insurance policy, cover will commence on and from the effective date and time shown on your Certificate of Insurance and monthly deductions of instalments will commence on or just after your renewal date.
- If an instalment payment is overdue we can refuse to pay a claim if payment is 14 days (or more) late and we can cancel your policy if payment is a month (or more) late.
- If you do not pay the premium and other charges in full, we will reduce the period of insurance so it is in line with the amount you paid.
- If we decide repairs are not economical for your motor vehicle or boat, or we pay out a claim for the full sum insured on your home, we can deduct the remaining instalments due for the full period of insurance from the amount we pay for the claim and your cover then stops.
Instalment payments are not available on policies that have a monthly premium of $10.00 or less.
Important Information
* Contact your bank to confirm your personal account details
Terms and conditions apply. To approved applicants.
Insurance is issued by Suncorp Metway Insurance Limited ABN 83 075 695 966.
Product Disclosure Statement
General Insurance products are issued by Suncorp Metway Insurance Ltd ABN 83 075 695 966. Please read the relevant Product Disclosure Statement before you make any decisions regarding any of these products. Contact us for a copy.