What payment types do you accept and how can I change/update my payment information?

We accept checks, credit cards, ACH payments, and wire payments. Payment method changes can be submitted through the Client Portal, our secure Billing Information link or you may call the NREIG Billing Department at 888-741-8454 Ext. 3001.  

Please do not send any card/bank information via email.   

What billing methods do you offer?

Monthly Billed- Your primary payment method on file will run for the balance due plus a $7 installment fee on your autopay date each month. Your autopay date is determined by the effective date of the first location added to your account.* 

Annually Billed- Your payment method on file (bank account or credit card) will be charged the entire 12 months’ worth of premium. Those premium funds will be held on file and on the first of each month, the monthly balance due will be withdrawn. Annually billed accounts are not charged a monthly installment fee. If coverage is cancelled with funds on file, you will be sent a refund.  

Escrow Billed- When the property is set up in our system, your lender will be billed a 12-month invoice. The funds obtained will be held on file and the balance due each month will be drafted. When funds are 60 days from depletion, your lender will be invoiced again. If coverage is cancelled with funds on file, you will be sent a refund.  

Prorating: What is it and does NREIG do it? 

In the context of property insurance, prorating involves calculating a partial premium amount based on the duration for which coverage was needed within a month. At National Real Estate Insurance Group, we do not prorate. Regardless of the number of days in a given month you have coverage for your property, the full premium amount for that month is due.  

I didn’t make any coverage changes, so why have my rates increased?

NREIG’s Program operates on a monthly reporting schedule. So, even though we offer annual billing options, all coverages are month-to-month. This program design is what empowers you to make changes to your coverage at any time. You are not locked into annual contracts or costs. When you sign the Program Participation Agreement, you acknowledge the possibility of changes to your coverage at any time due to carrier requirements or other reasons. Factors like the hardening property market, inflation, labor shortages, and increased building costs have recently led many carriers to require increases across the board. To read more about the current state of the market and how it is impacting investors, click here.  

For accounts that are annually billed, the difference in cost for the remainder of the property term would be drafted from the payment method on file on the next autopay date. 

 

If you have additional questions, please reach out to our Billing Department at 888-741-8454 Ext. 3001 or Billing@NREIG.com. 

 

*If your account number begins with “SHIELD”, certain processes outlined above may vary.