MBA Insurance Billing and Deposit Policy

Billing

Premium is billed in arrears; deposits are required on all units because of this (see below for deposit policies). Premium is billed at the end of each month and is due by the 15th of the following month.

Pro-rating

Units active for the duration of the month, or units added between the 1st -26th of the month, will be charged a full month's premium. Any unit added on the 27th or later will be charged one week's premium. Units deleted will be pro-rated for the number of days the unit was insured.

Winter

During the months of October-May you may place some or all of your units on winter status. This will remove rental coverage from the units, but all other coverage will remain in place. This is done on a month to month basis therefore we can only make it effective on the first of a month.

If a unit needs to be placed back on rental status we will make it effective on the first of the month and you will be charged a full month's premium. If you make this request in middle of the month we can only back-date to the beginning of the month if the unit has not been rented during that time. If the unit has been rented we will make it effective for the first of the following month.

The premium for units on winter status is half the normal rate.

*Winter rates are only available for Primary motorhome policies and some motorcycle policies. Please contact our office if you are unsure if the winter program is available to you.*

Deposits

MBA requires a deposit for each unit added to your policy. Deposit amounts are determined by taking an average of two months premium for all active units at policy start-up, and will be revised at policy renewal. Deposits are not billed per individual unit, only as a number of active units. Deposits are required to be received in our office no later than five days after policy startup, or ten days from deposit billing for additional units added. Policies with insufficient deposits on hand are subject to cancellation. Deposits will be refunded at the end of the policy term or cancellation of the policy. You can also submit a request to have excess deposits refunded when units have been removed from the policy.

Cancellation

You may cancel your policy at any time by submitting a cancellation request via fax, email, or phone. Any such cancellation will be effective as follows.

If you request a cancellation effective:

Mid-month – your premium will be pro-rated for the number of days the policy was in force.

First of the month—no premium will be charged for that month.

Last day of the month—full month's premium will be charged for that month.

Any premium due will be paid from deposits on hand before a refund is issued.

Suspension

You may request to place your policy on suspension during your off-season. This will remove all coverage from your policy but keep your policy active, which simplifies the process of starting back up for your next rental season. Once your policy is placed on suspension you must reactivate for a minimum of three months before your policy can be placed back on suspension. Any such suspension will be effective as follows.

If you request suspension effective:

Mid-month – your premium will be pro-rated for the number of days the policy was in force.

First of the month—no premium will be charged for that month.

Last day of the month—full month's premium will be charged for that month.

Any premium due will be paid from deposits unless you request that we wait to receive payment from you. You will have the option of either being issued a refund of deposits for the off-season, or having us hold your deposits for next season. Any refund of deposits will be issued after and premium due is paid.