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Effective November 1, 2011, the company policies listed below apply to all insurance policies and related products issued by Troy Insurance Group and/or Capital Benfefits Partners.

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• NOTICES OF CANCELLATION (NOC’s) / PAYMENT ISSUES

We understand that things happen and sometimes payments cross in the mail.  However, it is the policy of Troy Insurance Group, as well as most other insurance brokerages, not to directly contact insured clients in the event of cancellation or potential cancellation of coverage for non-payment of premium.  It is the insured’s responsibility to ensure that timely payments are made so that his or her policy stays in-force.  The reasons for not contacting insured parties with regards to late payments are:

a. the insured client already receives numerous contacts from the issuing carrier by means of payment letters, notices of cancellation, and other correspondence (including emails) informing the insured that payment is past due and that the policy is at risk of cancellation. The insured is already made well aware of the payment delinquency.  It is the insured’s responsibility to update mailing addresses and/or other pertinent contact information when necessary.

b. if Troy Insurance Group contacts one client for late payment, we must in turn contact all clients each time a payment is late. This is logistically impossible and the amount of service time and manhours required to perform such activities after the client is already aware of the issue is cost-prohibitive.

 

• NO REINSTATEMENT AFTER THE SECOND POLICY CANCELLATION

If a client’s policy does cancel for non-payment of premium, it may be eligible for reinstatement if the issuing carrier so allows. However, if the policy cancels for a second time due to non-payment of premium, Troy Insurance Group will refuse to reissue or rewrite the policy.

 

• BINDING and ISSUING POLICIES

It is the policy of Troy Insurance Group not to issue or bind policies without first receiving the initial payment due. If payment is mailed, the policy will be bound with an effective date of when the payment is actually received. Payment may be made by ACH (electronic check), paper check, money order/cashier’s check, or credit card.

 

• NSF (Non-Sufficient Funds) FEES

All unhonored checks or ACH transactions will incur an additional $35 NSF Fee in addition to any other amounts owed. Unpaid NSF fees will be treated the same as unpaid or outstanding premium.

 

• INSURING “WRAP-AROUND” MORTGAGES

Troy Insurance Group and InsuranceForInvestors.com can and will insure properties purchased with a ‘wrap-around’ mortgage transaction; however, in order to be eligible for coverage, the insurance will ONLY Be issued in accordance with the terms set forth in our wrap-around instructions found by clicking here.