Policy Payment Options

Pay Your Way!

 

Bank Account – Monthly Premium Plan

Good news, we have one of the lowest-cost monthly premium plans you’ll find anywhere. 

Many insurance companies charge interest on your premiums when you pay by the month. We don’t.  

Our monthly premium plan also means that your coverage will be renewed automatically. That way, there’s no risk of a lapse in your coverage. Find out more below by checking our section on ‘How our Monthly Premium Plan Works’.

 

Bank Account – One Pay

If you would like to pay your premium all at once, you can do that on or before the start of the policy term. You can pay by Internet or Phone.  

It’s easy to add Canadian Direct Insurance as one of your bill payee options with your Internet Banking or Telephone Banking service. All you need is your policy number. You can also pay (for a small fee) using TelPay Incorporated.

 

VISA or MasterCard

You can pay by Visa or MasterCard in one payment and we won’t charge your credit card until your renewal effective date. Renew by:

  • Internet
    • If you received your auto insurance renewal documents electronically from Canadian Direct please click here to log in and renew your policy
    • If you received your auto insurance renewal documents from Canadian Direct via mail please click here to renew your policy  
  • Phone: you can call us using our automated renewal service, 24 hours a day, 7 days a week at 604.526.4182 (BC Lower Mainland) or 1.877.526.4182 (remainder of BC and Alberta). Just be ready to provide your policy number. And don’t forget, we won’t bill you until your renewal effective date.

 

Cheque

Send us a cheque for the amount of your premium at least two weeks before your renewal date, to make sure that there will be no lapse in coverage. Please write the policy number on your cheque.

 

How Our Monthly Premium Plan Works

When you choose our monthly premium plan, monthly payments are automatically withdrawn from your bank account. Your first payment is 1/12 of the total annual premium. This amount and a processing fee are deducted on the issuance of your policy. The remaining installments are withdrawn automatically over the next 11 months.

 

Renewal

Your coverage will be renewed automatically on the policy anniversary date when you sign up for our monthly premium plan. You can relax and know that there will be no lapse in your insurance coverage.

 

Policy Changes

If you are on our monthly premium plan and you make a change to your policy, the additional or return premium will be applied evenly to the remaining installments.

 

Change of Bank/Financial Institution

Our monthly premium plan works with any Canadian bank, trust company or credit union chequing account. If you change your bank or account number, please notify us as soon as possible to prevent any charges or lapse in coverage. We need at least 14 days notification of a change in banking details for it to take effect.

 

Non-Payment

Your policy will be subject to cancellation if the bank returns your payment. On the first instance, you will be notified in writing of the overdue account, and will be asked to make alternative arrangements to pay the monthly premium within 15 days, to prevent the policy from being cancelled. We will charge back to you any costs incurred.

If your monthly premium becomes overdue a second time within a single policy term, your monthly premium plan will be revoked. You will be required to pay the remaining balance in full by a certified cheque, money order or valid credit card.

In addition, we will recharge to you any costs incurred in respect of payment(s) returned by your bank.

 

How to Apply

You can make this change when you renew your policy on our website:

  • If you received your auto insurance renewal documents electronically from Canadian Direct please click here to log in and renew your policy
  • If you received your auto insurance renewal documents from Canadian Direct via mail please click here to renew your policy  

 

Terms and Conditions of Use

  • I certify that the bank account information provided in the Monthly Premium Plan Personal Pre-Authorized Debit (PAD) Agreement is accurate.
  • I agree to inform Canadian Direct Insurance of any change in the account information at least 14 days before the next payment date.
  • I acknowledge that my financial institution is not required to verify any information contained on the form.
  • Delivery of this authorization to Canadian Direct Insurance constitutes delivery by me to the financial institution indicated on the form.
  • This authorization will remain in effect until Canadian Direct Insurance has received written notification from me of its termination. This notification must be received at least ten (10) business days before the next debit is scheduled. I may obtain a sample cancellation form, or more information on my right to cancel a PAD agreement at my financial institution or by visiting www.cdnpay.ca. I understand that revoking this authorization does not terminate my insurance policy. My authorization applies only to the method of payment and has no bearing on the insurance policy.
  • I have certain recourse rights if any debit does not comply with this agreement. For example, I have the right to receive reimbursement for any PAD that is not authorized or is not consistent with this PAD agreement. To obtain a form for a Reimbursement Claim, or for more information on my recourse rights, I may contact my financial institution or visit www.cdnpay.ca.
  • I am aware that my insurance coverage will be renewed automatically unless otherwise advised by Canadian Direct Insurance under the terms of my policy or this monthly premium plan. If I do not want to be automatically renewed, I agree to advise Canadian Direct Insurance at least one week prior to my date of renewal.
  • An annual processing fee of $20 will be charged for use of the monthly premium plan. This fee is non-refundable.