Account Bill
What is account bill?
Account bill is a way of billing multiple policies on one statement on either a monthly (both Personal and Commercial Lines policies) or quarterly (Commercial Lines policies only) basis.
Do all of the policies under the client need to be on account bill?
No. You can choose which policies you want on the statement.
What policies are eligible for account bill?
All policies are eligible for account bill with the following exceptions:
They cannot be agency-billed.
They cannot be billed to your mortgage company.
When will the account be billed?
The majority of accounts will be billed on their policy effective day. If you require another day, the billing day may be changed.
| | Example: | Policy effective 3/10 |
| | | Billing date = 10th of the month |
Do all of the policies need to have the same effective date?
No, policy terms do not need to be concurrent.
What pay plans are offered with account bill?
The percentages billed depend on the term length of the policy and the frequency of the statements.
| Frequency |
Term Length |
First Installment |
Remaining Installments |
| Monthly |
Six months |
20% billed one month prior to renewal |
16% billed monthly, starting with the policy effective month |
| Twelve months |
20% billed one month prior to renewal |
8% billed monthly, starting with the policy effective month |
| Quarterly |
Twelve months (Commercial Lines policies only) |
25% billed one month prior to renewal |
25% due 3 months, 6 months, and 9 months from the policy effective month |
| | Example: | Monthly Account Bill |
| | | Personal Auto policy effective 1/1 |
| | | 20% billed in December for renewal premium |
| | | 16% billed in January |
| | | 16% billed in February |
| | | 16% billed in March |
| | | 16% billed in April |
| | | 16% billed in May |
| | | 20% billed in June for renewal premium |
| |
| | | Quarterly Account Bill |
| | | Commercial Auto policy effective 1/1 |
| | | 25% billed in December for renewal premium |
| | | 25% billed in March |
| | | 25% billed in June |
| | | 25% billed in September |
Do policies need to be added to account bill at renewal?
No, policies can be added to the account at any time. If, however, the policy has an outstanding invoice or renewal offer, the payment for that invoice must be made before the policy will actually bill on the account bill statement. Policies will be added/deleted as of the current date only.
Will there be any installment fees?
Yes, each statement generated will be charged a $5.00 fee.
How will endorsements be billed?
Endorsement will be billed on the next account statement. If the endorsement is processed midterm, it will be billed through the current installment percentage and the remainder will be spread across the remaining installments.
| | Example: | Personal Auto policy for third installment will bill up through 52% of the term premium (20% for the renewal, 16% for the second installment, and 16% for the third installment) minus payments received. |
| | | The statement will bill 16% of the premium for the renewal or new business plus 52% of the endorsement. |
| | | The next installment will bill 16% of the entire term premium (the renewal or new business amount plus the endorsement). |
Other Pay Plan Options
Direct Bill - Personal Lines
Direct Bill - Commercial Lines
Electronic Funds Transfer
If you have a specific billing question on your policy, please feel free
to call our billing customer service at (952) 921-9200 or (800) 862-6070
ext. 200. Our hours are 7:30 a.m. to 4:30 p.m. CT Monday through Thursday
and 7:30 a.m. to 12:00 p.m. CT on Friday.
Statement of Condition
