Important Changes to Travelers Down Payment Procedures in ...

Important Changes to Travelers Down Payment Procedures in Florida

Effective September 19, 2010, Travelers is introducing system changes to better enforce our down payment requirements for new Auto policies in Florida.

Available down payment types: Agent Sweep Payment, Electronic Bank Payment (EBP), VISA? and MasterCard? are accepted for new Auto policy down payments. Please note: Check and Other is no longer available as a down payment type for Auto.

Down payments are always required for any new auto policies issued. In ATLAS3, we have redesigned the Billing page and enhanced the Confirmation page to support our down payment requirements. Learn about the changes below:

Billing page: Redesigned for easier reading and to provide minimum down payment and total premium information

Notes:

The Insured bill plan has been renamed to Bill by Mail.

If you visit the Billing page and make a selection, you will be prompted to complete the page. To exit the page without completing it, click Refresh to reset the page and remove the requirement.

Created 9/14/2010

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Confirmation page: Enhanced to include new fields to display Total Premium and Bill Plan.

Reminder: please be sure all policy information, including VIN number, driver's license number and any companion policy numbers, is complete prior to clicking Complete Issue.

Important Notes About Down payments by Electronic Bank Payment (EBP) or Credit Card:

If a premium-bearing change is made to a policy after a down payment has been secured through EPB or Credit Card, the required down payment is recalculated. Any variations between what was paid and what is owed are handled as follows:

If...

The required down payment is less than what was secured... The required down payment is more than what was secured... The policy was paid in full and was overpaid...

Then...

A credit will be made to the next installment.

The balance of the down payment will be added to the amount due in the next installment. A refund will be issued to the customer.

Print Selections: Removed the agent proposal option for policy changes.

Auto Payment Calculator: Since ATLAS3 now calculates the exact amount of the Auto down payment, this calculator is no longer required. The Auto Payment Calculator will be removed from the Agent HQ ? Billing Tools menu in October.

Created 9/14/2010

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