Resources
Payment Options
BCM Insurance offers policyholders several ways to pay for insurance. Insurance documents and invoice statements are sent directly to policyholders prior to due dates.
For new business, full payment must be submitted with the application. For renewal business, full payment is due on the policy effective date. If a payment plan option is chosen, payment is considered received in full once all post-dated payments are submitted.
Payment Plans
One Pay Plan
Pay your premium in full by the policy effective date.
Example: Annual Premium $1,500, Effective Date January 1st. One payment of $1,500 due on the effective date of the policy.
Monthly Payment Option
A pre-authorized monthly automatic withdrawal plan. Authorize BCM Insurance to withdraw your monthly payment directly from your chequing account or credit card.
Available withdrawal dates:
- 1st of the month
- 10th of the month
- 15th of the month
Service fee: 1.3% applied to monthly payment plans.
NSF fee: A $50.00 fee is assessed for payments returned due to insufficient funds.
Ways to Submit Your Payment
Monthly Payment Plan
Scheduled monthly withdrawals from your financial institution. Each BCM Insurance policy has its own individual monthly withdrawal schedule. Payments from multiple policies cannot be combined or withdrawn as one lump sum.
- Ensures continuous insurance coverage
- Select your preferred monthly withdrawal date
- Saves postage and time
- Nominal service charge
Note: The Monthly Payment Option cannot be used in combination with other payment methods.
If your chequing account information changes, advise your Insurance Advisor at least 10 days prior to the next scheduled withdrawal date.
Online Payments
Make an online payment through our website. Available for One Pay only.
Accepted payment methods: Visa, Visa Debit, MasterCard, MasterCard Debit.
Payment Through Financial Institution
Use your financial institution's telephone or online banking service to pay your insurance premium directly from your bank account. Available for One Pay only.
When making payment, select "BCM Insurance" for the company name, then enter your 8-digit policy number found on your Policy Declaration page or Billing Statement. You may need to contact your financial institution to set up a billing profile.
Note: You must make a separate payment for each BCM Insurance policy.
Cheque
Cheques are only acceptable for the One Pay option. For payment plans other than One Pay, all cheques (post-dated) must be submitted at the same time.
Send cheque(s) with billing stub to:
BCM Insurance1003 Niagara Street
Welland, ON L3C 1M5
Note: NSF fees will be charged for all insufficient funds.
Premium payments received by telephone banking or online banking do not constitute a waiver of our rights with respect to reinstatement. Please contact your Insurance Advisor for further information. Not all payment methods are available at all financial institutions.
Questions about your payment?
Our team is happy to help you find the payment option that works best for your situation.