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Understanding Your Invoices

 

What are your invoices telling you?

Invoices contain a host of important information related to your policy, premium, and payments. The type of invoice that you receive depends primarily on where you are in the policy process.

 

New Business Quote Invoice, Premium Invoice, and Audit Invoice

invoice example

 

  1. Insured: the name and address of the insured party or policyholder.
  2. Policy details: detailed policy information including your policy number, effective & expiration date of your policy term, and your estimated annual premium.
  3. Producer: the agency or producer who manages the policy on your behalf. (this section will appear blank if you did not obtain coverage through an agency).
  4. Bill date: the date in which the bill was created/sent.
  1. Description: describes the reason for the billing transaction 
    (eg. installment premium, audit adjustment, refund, etc.)
  2. Term: the policy term for which the transaction is related.
  3. Amount due: the amount owed for this transaction.
  4. Date Due: the date in which payment is due.

Renewal Quote Invoice

renewal invoice example

  1. Insured: the name and address of the insured party or policyholder.
  2. Policy number: your 8-digit quote number or your 9-digit policy number.
  3. Renewal term: the effective and expiration dates for the proposed renewal term.
  4. Annual premium: your estimated annual premium for the renewal term.
  1. Initial premium: the initial amount needed to renew your policy.
  2. Due date: the date in which payment is due.
  3. Producer: the agency or producer who manages the policy on your behalf. (this section will appear blank if you did not obtain coverage through an agency).