Financial Options for Hiscox New Jersey Policyholders affected by COVID-19
Hiscox is here to support our customers through this challenging time and to provide you with premium payment options to help you keep your policy in force.
The State of New Jersey Department of Banking and Insurance has issued Bulletin No. 20-15 directing all insurance carriers to provide their policyholders who may be experiencing financial hardship due to COVID-19 with 90-day grace period to pay insurance premiums so that policies are not cancelled for nonpayment. This grace period to begin either on April 1, 2020 or May 1, 2020.
In response to this mandate, Hiscox has chosen to not process a cancellation or non-renewal for any New Jersey policy of insurance with past due premiums that accrue between April 1, 2020, and August 1, 2020.
In addition, the Bulletin allows New Jersey policyholders to request premiums that were due but not paid during the grace period to be paid over the remainder of the current policy term or up to 12 months in up to 12 equal installments, whichever is longer.
Policyholders that would like to pursue this option must submit a request using the link below:
You can also explore your payment options by calling this special toll-free number and speak to a Hiscox advisor:
1-855-975-6268 (Monday – Friday, 7am – 10pm ET).