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MAPFRE | Commerce Insurance

What is EFT?

EFT is an automated monthly payment plan. The EFT plan is an easy, fast, and a time saving way to make your monthly premium payments.

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Are there any monthly service fees associated with the EFT payment plan?

Massachusetts Personal Automobile policies effective 11/01/10 and later, and Homeowner policies effective 01/01/12 and later, will incur a $1.00 monthly service fee. EFT is a convenient way to lower your monthly service fees while saving time and postage.

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Is everyone eligible for EFT?

NO! Currently, only Personal Lines Automobile and Homeowner policies are eligible for our EFT program. Policies written through the Massachusetts Assigned Risk Plan are not eligible for EFT. If you have any questions regarding the Massachusetts Assigned Risk Plan, please contact your Independent Insurance Agent.

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When will my premium payments be deducted?

You may choose ANY date between the 1st and the 28th of the month. When your deduction date falls on a weekend or holiday your deduction will occur on the next business day.

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What time will the deduction be taken by my bank?

The actual time of deduction is determined by your banking institution.

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Can I elect to have deductions taken from my savings account?

You may elect to have deductions taken from a statement savings account. However, deductions are not allowed on passbook savings accounts because financial institutions require that the passbook be available for withdrawals.

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Can I change my deduction date?

YES! You can access www.mapfreinsurance.com to setup a customer account or visit your already established customer account. Through your customer account, you can make changes to or enroll in the EFT payment plan. You can also change your deduction date by completing a new authorization form or submitting a written request to us which includes your name, policy number, your signature, and the new date you have chosen. The request must be received at least 15 days prior to your next deduction. Please Note: A change of deduction date may cause a change in the amount and/or number of your future deductions.

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How much will be deducted each month?

Your policy must be paid in full no later than the eleventh month of the policy term. If your policy begins in January, it must be paid in full by November. Your monthly deduction is determined by dividing your premium balance into the number of installments available, based on the deduction date you have chosen.

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When do you determine what the deduction amount will be?

The deduction amount is determined 15 days prior to the deduction date. Changes in the balance within 15 days of the deduction date including premium adjustments, payments and transfers, will not adjust the current deduction amount. These adjustments will be reflected in the following deduction amount.

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Is there a minimum deduction amount?

Yes! The minimum deduction amount is $5.01. If a monthly deduction would be less than $5.01, we will reduce the number of installments until the deduction amount reaches the $5.01 minimum. For example, if you have two installments left and each installment would be $4.00, we will take one premium deduction of $8.00. You will, of course, receive a withdrawal notification showing the $8.00 deduction.

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What if the amount of my policy changes?

Any premium change is spread over the number of remaining installments. Any time a change to your policy causes a change in your deduction amount, you will receive a statement from us at least 10 days before the deduction of the new amount. Changes posted to your account balance within 15 days of the deduction including premium adjustments, payments and transfers, will not adjust the current deduction amount.

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What if I get a new checking account or savings account?

Simply access www.mapfreinsurance.com to setup a customer account or visit your already established customer account. Through your customer account, you can make changes to your stored checking account or savings account information. You can also complete a new authorization card with your new information. We must receive this information at least 15 days prior to your next deduction to ensure that we are able to process your deduction from the appropriate account. If you submit a new authorization card and deductions are to be taken from a checking account, please be sure to include a voided check with your completed authorization form.

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What if I change my name or address?

Name and/or address changes must be submitted in writing and received at least 15 days prior to your next deduction. To ensure proper delivery of deduction schedules and that we are able to process your deduction from the appropriate account, please include your new name, new address and your policy number.

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What if I donít have enough money in my account?

If funds are not available for your deduction, your account will be charged the applicable returned check fee. We will send notification to you and request that you make payment by check. If you do not pay the necessary amount by the due date, you will receive a Statutory Notice of Cancellation that requires payment of the past due amount plus the next scheduled deduction amount. If your policy is reinstated, the remainder of the premium will be billed on our standard installment payment plan.

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Where can I get a new authorization card?

You can obtain a new authorization card from your agentís office, by contacting our Customer Service Department at (800) 922-8276, extension 14300 or by visiting our website at www.commerceinsurance.com.

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What if I want to return to your standard installment payment bill plan?

Simply access www.mapfreinsurance.com to setup a customer account or visit your already established customer account to remove yourself from the EFT payment plan. You can also submit a written request to be removed from the EFT payment plan. We require at least 15 days prior to your next deduction. The remainder of your premium balance will be billed according to our standard installment plan, including applicable service fees.

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Billing Information


    Address

    The Commerce Insurance Company
    Attn: Direct Bill Payment
    11 Gore Rd.
    Webster, MA 01570

    Please include your policy number on your check.


    Questions?

    Customer Service Representatives can be reached Monday through Friday from 8:00 a.m. to 6:00 p.m. at (800) 922-8276


    Automated Account Information
    Use your touch tone phone to receive account information 24 hours a day, seven days a week. Call (800) 922-8276. Select '2' for Billing, then press '1' to reach the automated billing information center.


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