What happens if I miss a payment?

If a payment is missed, The Holloway Agency typically follows a standard procedure to address the issue. Initially, the policyholder may receive a notification or reminder regarding the missed payment. This communication is often designed to provide details about the amount due and any applicable grace periods. It is important to note that many insurance policies include a grace period, during which the policyholder can make the payment without facing penalties or policy cancellation. However, if the payment remains unpaid beyond the grace period, there may be consequences such as the suspension or cancellation of the policy. This could result in a lapse of coverage, leaving the policyholder unprotected until the payment is rectified. In some instances, fees may apply for late payments, which can further increase the total amount owed. To avoid such situations, it is advisable for policyholders to manage their payment schedules effectively or set reminders. If you are looking for further information regarding payment policies, it may be helpful to explore the official website of The Holloway Agency for additional guidance and resources.