COVID-19 has caused unprecedented action within communities across the country. These actions have been taken for the sake of our collective health and safety. We understand these actions may create financial hardship for many customers. Due to this situation, Foremost® is extending a grace period for late payments until May 1, 2020. If a customer’s payment is late during this time, we will send a reminder bill with an extended due date (rather than a cancellation notice for non-payment). This process will happen automatically; there is no need for you or your customers to call us to request the extension.
All other billing remains unchanged, with bills going out with their regular due dates. We will continue to monitor this situation, and will update you as we make any additional changes to help customers maintain their insurance coverage.
It is important to note, that these premiums are not being waved, but instead are being given an extended Grace Period. I would recommend all clients continue to pay their premiums, if able to do so. As a Business Owner, I know that we are often faced with many challenges on a day-by-day basis. With this in mind, if we can keep some normality in areas we can control, let's do it.
In addition to State Auto, there are many other carriers who are extending their Grace Periods. If you are a client with BIG and would like more information, please feel free to contact us.
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