Managing bond costs and insurance premiums can be challenging for contractors. At CCIS, we can accommodate our clients’ varying financial needs. We offer a range of payment options designed to provide flexibility and ease without compromising protection.
Payment plans are available for bonds exceeding certain cost thresholds, typically starting at $300. The structure of payment plans depends on factors such as the total premium amount and the client’s payment history. For example, smaller premiums might be split into three manageable payments, while larger premiums could qualify for extended plans of up to ten or eleven installments. This approach ensures clients can tailor their payment schedules to fit their circumstances.
For General Liability insurance, payment plans tend to be more commonly utilized than bonds, primarily because of the higher associated costs. Contractors typically opt for these plans when insurance premiums reach or exceed $700, making installment payments a practical choice to manage their budgets. In addition, contractors with limited access to credit or those seeking alternatives to lump-sum payments benefit from the flexibility these plans provide.
Contractors who pay their premiums in full upfront avoid additional fees associated with payment plans. However, for those who choose to spread their payments, finance charges or flat monthly fees may apply, ensuring transparency and fairness in the payment process.
Our goal at CCIS is to work with each client individually, providing solutions that accommodate your financial situation. As part of our commitment, we ensure the process is straightforward and accessible. You just have to provide you payment information and choose from our available options.