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Payment Plans

NYCM Insurance offers several payment plans for your convenience. We care about the needs of our customers and strive to provide the best customer experience possible as we protect what matters most to you. Please explore the options below that NYCM has to offer:



NYCM Insurance Payment Plans

Single: The entire premium is paid on the policy effective date with no installment fee. A discount is applied for paying in one lump sum at the time of payment.

Two: A down payment of 50% is due on the policy effective date. The balance is due sixty days after the policy effective date.

Five: A down payment of 15% is due on the policy effective date. The balance is divided over the remaining four installments. On renewal, the premium is divided over five payments.

Six: A down payment of 15% is due on the policy effective date. The balance will be divided evenly over the remaining five installments. On renewal, the premium is divided over six bi-monthly payments.

Eleven: A down payment of 15% is due on the policy effective date. The balance is divided over the remaining ten installments. On renewal, the premium is divided over eleven payments.

Electronic Funds Transfer: This option allows you to have your insurance premiums automatically deducted from a designated checking or credit card account. The payment deduction will occur according to your plan schedule. There are no installment fees with this option. To sign up for Electronic Funds Transfer from your checking or credit card account, complete the authorization form and return it to us at the address below or provide it to your agent. This option can also be selected by registering for or logging into My Account.
Electronic Funds Transfer Authorization Form

Multiple Policies: This option streamlines your payments by combining multiple policies into one payment according to your plan schedule. This option can be selected by completing the following Combination Policy Authorization form.


A.Central Insurance Payment Plans

Single: The entire premium is paid on the policy effective date with no installment fee. Some policy programs qualify for an additional discount.

Four: A down payment of 15% is due on the policy effective date. The balance will be divided over the remaining three installments. On renewal, the premium is divided over four payments.

Ten: A down payment of 15% is due on the policy effective date. The balance will be divided over the remaining nine installments. On renewal, the premium is divided over ten payments.

Electronic Funds Transfer: This option allows you to have your insurance premiums automatically deducted from a designated checking or credit card account. The payment deduction will occur according to your plan schedule. There are no installment fees with this option. Some policy programs qualify for an additional discount. To sign up for Electronic Funds Transfer from your checking or credit card account, complete the authorization form and return it to us at the address below or provide it to your agent. This option can also be selected by registering for or logging into My Account.
Electronic Funds Transfer Authorization Form


Assigned Risk Payment Plans

If you are assigned to the New York Automobile Assigned Risk Pool, there are two payment plan options. These plans are established by the New York State Automobile Insurance Plan. Service fees are applied per New York State Plan rules. Your total policy premium must be at least $300.00 to qualify for the six payment plan. Payments may be made directly to NYCM or to your producer.

Two: A down payment of 25% is due on the policy effective date. The remaining balance is due thirty days after the policy effective date.

Six: A down payment of 25% is due on the policy effective date. A payment of 15% is due sixty days after the policy effective date. Another payment of 15% is due ninety days after the policy effective date. The remaining payments of 15% are due four, five and six months from the effective date of the policy.


My Account

As a customer you can enjoy additional conveniences by registering or logging into My Account. This online feature provides access to your personalized account information. Whether from home or on the go, My Account allows you to make and schedule payments, file and view claim history, review policy coverages and more.

Going Green is easy! My Account provides a free and secure paperless option for all your policies so that you can view and pay your bill online from any device, anytime. This option provides you the flexiblilty and 24/7 account access you need.


Important Payment Plan Information:

  • Installment plans are charged a service fee on each installment; unless stated otherwise.
  • If your payment is received after the due date, a fee may be assessed for any non-payment notice issued on your policy based on frequency.
  • Endorsements for all policies that are processed during the policy period will be reflected on your next billing statement.
  • If your policy is billed to a third party, a copy of the statement will be sent to the named insured as well as the third party.
  • A fee will be assessed for checks that are not honored by your banking institution.
  • The Motor Vehicle Law Enforcement Fee of $10.00 is collected annually by the state of New York and is applicable to each insured vehicle on an automobile policy.
  • Please note payment plan options, associated fees, and availability vary by policy.