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. 1002.
Please do not send any card/bank information via email.
You may incur the following service fees based on payment method:
- $1 fee per ACH transaction
- $5 fee per check transaction
- 3% fee per credit card transaction
- Up to $20 fee per transaction for wire transfers
What billing methods do you offer?
Monthly Bill- Each month on your autopay date, the primary payment method on file will run for the balance due for that month of coverage plus any applicable fees. Your autopay date is determined by the effective start date of the first bound location on the account. If that effective date falls between the 1st and the 15th, your payment will run on that date each month. If the effective date falls between the 16th and the end of the month, your payment will run on the 15th of each month.
If a rate adjustment due to requested coverage changes or carrier requirements (referred to as an endorsement) is effective prior to your autopay date, your primary payment method on file will run for the new amount on your next billing cycle. If the effective date of the endorsement falls after your autopay date, the difference for the current month will be evenly distributed amongst all remaining invoices for the policy period.
Prepaid Annual Premium- While we are a monthly reporting program, we recognize that some may wish or be required to pay 12 months of premium upfront. As such, we offer a prepaid annual premium option. At the time coverage is bound, your payment method (bank account or credit card) will be charged for 12 months’ worth of premium. These funds will be held on file and used to cover the monthly balance due each month. If premium changes occur during the policy term, the new monthly amount will continue to be withdrawn from the remaining prepaid funds. Once those funds are depleted, the monthly amount due will be charged to the payment method on file. If you wish to make another annual payment, you can do so by contacting the Billing Department.
Should coverage be canceled with remaining funds on file, you will be issued a refund for unused funds.
Escrow Bill- Locations that are escrow billed must be marked as “Bill To” in our system. We rely on insureds to let us know if a location is 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 each month, the balance due for that month of coverage will be applied to the account. When the location is 30 days from the end of its current policy term, the lender will be invoiced again. If funds are depleted prior to the end of the term due to coverage changes or endorsement, we will charge the payment method on file. If coverage is canceled with funds on file, a refund will be issued.
To prevent cancellation for non-payment of premium, you must have a backup payment method on file in the event funds are depleted prior to receiving the next escrow payment or the payment is not received in time.
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. National Real Estate Insurance Group does not prorate to the day.
Monthly premiums are charged for each calendar month in which coverage is active. Because NREIG’s billing operates on a monthly schedule, the policy period shown on Evidence of Insurance documents may require 13 monthly payments in the first year of coverage (e.g., if coverage is bound on June 15, 2026, and remains active through June 15, 2027, monthly premium will be due for June 2026 and June 2027).
Because premiums are not prorated, coverage afforded for any day within a calendar month will result in premium being due for that entire month (e.g., if coverage is canceled effective June 1, premium for June will be charged—if coverage is not needed in June, the cancellation effective date must be May 31).
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 or cost at any time due to carrier requirements or other reasons. Through both hard and soft markets, carriers will always evaluate their rates, the health of their book, their loss ratios, and market conditions. These considerations may lead to carrier-required rate changes.
If you have additional questions, please reach out to our Billing Department at 888-741-8454 Ext. 1002 or Billing@NREIG.com.
*If your account number begins with “SHIELD”, certain processes outlined above may vary.
