Billing
Northbridge offers two types of customer bill payment options: monthly pay and variable pay.
Payment Options
Below, we outline our customer bill payment plan, as well as both payment options so you can make the right choice for you and your customers.
Why brokers love it:
- Reliable and simple plan
- Full commission paid in first month
- Payment collected electronically or by cheque
- More time to serve your customers
- Copy of billing notice sent overnight to your office through LINCQ system, or the day after the policy is booked for brokers without LINCQ access
- Original billing notice sent to customer
Why customers love it:
- Flexibility to choose payment schedule
- Easy to budget with defined payments each month
- Automatic bank withdrawals
- Choice of monthly withdrawal date
- Installments automatically withdrawn from the customer’s chosen bank account
- A deposit, representing two months of the total annual premium, is recommended on all new customer bill accounts
Payments can be spread over 1, 2, 3 or 4 installments, or paid bi-monthly via:
- Automatic withdrawal from the bank account with no installment fee
- Cheque, money order, or with online banking
Fleet policy financing
For fleet transportation customers who require premium financing, we offer an in-house financing plan. Fleet policies written on a blanket basis* offer terms of two months down and 10 equal installments. Customers can enjoy a manageable monthly payment schedule with no financing charge.
Quarterly adjustments (as agreed to by the underwriter, broker, and customer) may be processed to accurately track the size of the customer’s fleet during the policy term.
For fleet policies written on a monthly reporting basis, our plan requires a cash deposit of 20% of the estimated annual premium, with no financing charge. Customers benefit from a manageable monthly payment schedule based on revenues or mileage, as agreed to by the underwriter, broker, and customer.
*certain conditions apply.
For billing inquiries on your customers’ accounts
Quick Links
- Resources: Browse our selection of information, insights, and tools to help you better understand and manage coverage and risk.
- Key Contacts: Find important contact information for broker market reservation submissions, business development managers, and underwriters in your area.
- Billing: Read more about our easy, flexible, and efficient customer bill payment options and fleet financing to suit any business needs.
- Appetite and Solutions: An overview of our appetite in, and tailored solutions for, our various target industry sectors.
- Broker Education: Discover how our Broker Education program can help you focus on your priorities and gain a competitive advantage.
- Northbridge On Line: Log in to access resources and information about our personal insurance products.
- EZ Cert: Visit our Transportation Broker Centre to learn about Northbridge EZ services, broker administration, premium payment options, and more for your trucking accounts.
