| PAYING YOUR PREMIUMS The NJM Insurance Group issues policies lasting one full year, compared with the six-month contracts issued by many other insurance companies. At the time that the policy begins, a bill for the premium for the full year of coverage is presented to the policyholder, who may pay the entire amount immediately. If the annual bill is more than $200, New Jersey Manufacturers Insurance Company will offer a convenient six-month installment plan. The same plan is also offered to customers of New Jersey Re-Insurance Company if the annual bill is more than $300. In both companies, the policyholder is charged $3 for each installment billed. The NJM Insurance Group will not accept postdated checks. All checks presented for payment of insurance premiums will be deposited immediately. |
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