What happens if I miss a payment?

When a customer misses a payment for their insurance policy with Intact Financial, several actions may occur depending on the terms outlined in the policy and local regulations. Typically, a grace period is provided during which the customer can make the necessary payment without incurring any penalties. This grace period can vary, so it is advisable for customers to familiarize themselves with the specific terms regarding payment deadlines. If the payment is still not received after the grace period, the policy may be subject to cancellation. In such cases, Intact Financial usually sends out notification reminders alerting the customer to any outstanding payments and the potential consequences of non-payment. It is important for customers to remain informed about their payment schedules and to communicate with their insurers if they are experiencing financial difficulties. Furthermore, missing a payment may also affect the customer's insurance coverage, potentially leading to claims being denied if they occur during a lapse in coverage. For detailed information regarding policies, payment terms, or potential consequences of missed payments, customers are encouraged to consult the Intact Financial website.