You can spread out the cost of your insurance by arranging an easy payment plan.
Find out how to pay your Autoplan insurance premium in monthly or quarterly instalments, what interest you will pay, and what happens if you miss a payment.
To be on payment plan, you must
Note: If you are under 19, you will need your parent or guardian to co-sign the payment plan.
You can sign up for payment plan at any Autoplan broker.
When you visit the broker, bring
The first payment will be withdrawn from your account on the start date of your policy.
For a payment plan, you pay
You have no other fees, and you can pay your full balance at any time.
|If . . .||Then . . .|
|there is not enough money in your account when your monthly payment is due
||you’ll be charged $18 for a missed payment. After three to five days, we’ll try to withdraw the money again.
|our second withdrawal attempt is not successful||we will contact you to let you know.|
|there is again not enough money in the account when your next monthly payment is due||we will close your monthly payment account and charge another $18 missed-payment fee. All payments, charges and fees are due in full. You won't be able to go back on a payment plan for two years.
Note: If debt isn't settled, the policyholder’s optional insurance coverage may be cancelled or licence plates seized.
Note: If you miss a quarterly payment, we will make a second attempt to withdraw your fee 30 days after it was originally due.
You can sign up for six months in the same way you would for a 12-month plan if you
Once you have successfully completed a six-month payment plan, you can apply for the 12-month plan.
Important: If you're on a payment plan, try to cancel your insurance at least one day before your payment is due so you don't get hit with an unexpected withdrawal.
Do I pay interest?
Yes. The interest you pay is the greater of these two amounts:
The interest rate is fixed from the day you sign, so will be the same each month.