Payment Options

Option 1: Annual payment

Option 2: Quarterly – 25% down plus 3 installments of 25% due every 60 days

Option 3: Monthly – 25% down plus 7 installments of 11% due every 30 days

Note:  Our quoted account premiums will be based on the assumption of Option 1 Annual Payment. Discuss the availability of Options 2 or 3 with your underwriter.

Installment Fees

$5.00 per policy/per installment (except the down payment) fee per policy/per installment - except Florida, $4.00 fee per policy/per installment, maximum of $12.00.

Procedures

The agent should collect the down payment plus any taxes and surcharges. Taxes and surcharges are not part of the installment program. This down payment check should be made out to Markel Insurance Company, should be noted that it is for a direct billed policy, should include the policy number, and should be mailed to:

PO Box 3870
Glen Allen, VA  23058-3870

If the policy is on a direct bill basis, the Insured will be billed for the installments and will be making future payments to:

PO Box 79652
Baltimore, MD  21279-0652