Help & Support
What happens if I miss a payment?
Deductions for payment of insurance premiums with Servus Insurance Services, Home and Auto are processed on the 5th of each month.
If a payment is returned by your financial institution due to Funds Not Cleared or Insufficient Funds, we will attempt to collect the same amount from your account 5-7 business days later - giving you another opportunity to have the funds available.
If, on the 2nd attempt, your payment is returned by your financial institution, your deduction will be subject to a handling fee. The missed deduction, along with the handling fee and any additional tax, will be spread equally over the remaining policy term - therefore increasing your subsequent monthly deductions.
In the event of multiple missed deductions, your policy will be cancelled by registered mail, in accordance with provincial regulations.
Please note, your financial institution may charge you for each unsuccessful withdrawal attempt, depending on your fee plan. An option to avoid this is to arrange with your bank for overdraft protection to prevent insufficient funds.
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Servus Insurance Services | Home and Auto ("SISHA") is a tradename for belairdirect Agency Inc., used under license, and is not a subsidiary of Servus Credit Union. This is not a solicitation by Servus Credit Union. Home and auto insurance is underwritten by Belair Insurance Company Inc. Services provided by belairdirect Agency Inc. ®belairdirect is a registered trademark of Belair Insurance Company used under licence.