For policies powered by Assurant:
Assurant offers you the option to pay annually, monthly, or with a 4-pay option for your policy period. All billing and payments are handled by Assurant, so you may make payments or ask any billing questions by visiting myassurantpolicy.com.
For policies powered by MSI (Century Insurance, Spinnaker Insurance, or Trisura Insurance):
When you purchased your renters insurance policy, you selected the option to either pay in full for 1 year of premium or in monthly installments.
If you chose to pay in monthly installments, the down payment was due immediately, which is 2 months’ worth of premium (first and last) plus a state policy fee if applicable**. There is also an installment fee of $1 to $5 per payment (depending on the state).
You received a detailed breakdown of the payment details as you set up your preferred payment plan, so check your policy documents email from MSI.
**This is the case for the first year of a policy, and as the renewal approaches, the payment breakdown will look different and you'll receive an email showing the new amounts and schedule.
Here’s an example of a monthly installment payment plan (keep in mind that payment setups will differ based on the date coverage starts and the fees, state and installment, that may or may not be included):
Total if paid for the whole policy period (1 year) at once: $160.00
Total on monthly installment plan: $178.00
NOTE: There are 11 payments on a new policy with a monthly payment plan. Upon renewal, the payments will shift to 12 installments per policy period.