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anytime you take payments on an insurance policy it's done through a finance co. that's why they charge you more then if you pay it up front

 

My only experience with insurance companies is limited to auto and renters policies. I always understood that it was the insurance company who dealt with everything in regards to payments.

 

don't worry, you'll get an unreasonable reinstatement fee
yes it's unigue to insurance but not just commercial insurance. auto is the same way. I had a 6 mo progressive policy that was three payments. I paid two and then let it lapse as im doing my insurance through landstar. they are cancelling mine promptly too

Crow auto policies are the same way. you don't do anything, you'd never know it unless you ask usually.

 

oh and my electric does get shut off exactly two weeks from the due date on the bill

 

Pharm,

I once had a policy set up like that, I paid 3 months up front, then 9 consecutive monthly payments. Then had a 3 month break with no payments before renewal time. Kinda screwed up. That is Probably the way yours was setup, they just failed to tell ya that.

The one I have had in recent years, I put 1 month in escrow then pay monthly for all 12 months. If I ever cancel the escrow month is returned to me.

Hopefully you can get it re instated before the FMCSA puts your DOT# inactive, that would be a pain in the arse, espically going to NY.

Good Luck,

 

I am really impressed with your invoices. Is it the repairs that have you down, or are you a big spender, Pharm? I know if/when I start pulling invoices like that, I will start looking at leveraging up 6 months down the road.

 

On commercial policies DO NOT let them cancel or lapse for non payment. ALWAYS cancel it yourself. They keep track among the INS. companies. It can make it hard to get another policy. Just have your agent cancel it before it lapses for non-payment. A decent agent will do this for you.