New York Central Mutual offers many payment plans for your convenience. The 2 payment plan, is NYCM's conventional plan that allows you to pay your premium in two installments. With this payment plan you're billed twice throughout the policy period.
Learn more about the Conventional 2 Payment Plan:
In order to be eligible for the 2 payment plan, you must have an active six month personal and/or commercial policy with New York Central Mutual. (Assigned risk policies are ineligible.)
If you choose this payment plan, your premium will be divided into two equal installments. 50% will be due on the effective date of the policy and the final 50% is due 2 months after the effective date of policy.
Once your application has been approved, New York Central Mutual will send you the payment schedule, which will detail the installments and when they are due. You will receive similar notification any time an endorsement to your policy changes the payment amount.
Under the conventional payment plans, there is a service fee of $4 per installment.
If you wish to switch to a conventional payment method at any time, simply notify New York Central Mutual or your insurance agent.
If you have further questions about signing up for the 2 payment plan, contact your insurance agent or call NYCM's Customer Care Center at 800-234-6926.
Reminders for all NYCM Policyholders:
- Endorsements effective during the billing period will be split between any remaining payments.
- Endorsements effective after the billing period will be due in full by the date indicated on the bill.
- If your policy is billed to a third party, a copy of the invoice will go to the named insured as well as the third party.
Miscellaneous Billing Information:
There will be a $20.00 fee for dishonored checks.
