Frequently Asked Questions

How does the premium finance process work with Superior?

If financing is desired, the insured must sign the Premium Finance Agreement and provide the broker with the requisite down payment. The signed Premium Finance Agreement must be sent to Superior and the down payment must be forwarded to the wholesaler or carrier (in the event there is no wholesaler). Superior will accept and forward the financed portion of the coverage to the applicable wholesaler and/or carrier. The insured will be notified that the Premium Finance Agreement has been accepted and will receive information relating to their invoicing.

How will the insured be billed?

Once Superior receives the signed Finance Agreement, we will send the insured a Coupon Sheet. The coupon sheet includes all of the necessary remittances for each monthly payment. Each remittance details the amount due and the due date. Payment must be received by the due date in order to avoid late charges.

Where should payments be sent?

Payments should be mailed to:
Superior Payment Plan, LLC
6450 Transit Road
Depew, NY 14043
Please write the account code on the check or money order and make payable to Superior Payment Plan, LLC. Also be sure to include the proper coupon with the payment.

How can I check account status?

24 hour access to account information is available via our interactive voice response system at 1-866-373-3866 or through this website.

What if payment is not received by Superior by the payment due date?

The insured has a 5-day grace period after the due date. If payment is not received by Superior after the prescribed number of days after the due date, which is based upon state law, the insured will incur late charges and Superior will issue a Notice of Intent to Cancel the policy(s). The Notice of Intent to Cancel is the only notification the insured will receive before the policy(s) is cancelled.

What if the amount due is not received by the cancellation date?

If the amount due is not received by the cancellation date indicated on the Notice of Intent to Cancel, Superior will issue a Notice of Cancellation requesting that the insurance company(s) cancel the policy(s).

My account is cancelled, how can I reinstate the account?

Once all outstanding amounts are received, Superior can request reinstatement of the policy(s) from the insurance company(s). Please be advised that while Superior can request the insurance company(s) to reinstate your policy(s), the policy(s) is not in force until the insurance company(s) reinstates the cancelled insurance policy(s). Only the insurance company(s) can reinstate your policy(s).

Can I pay off my loan prior to the final payment due date?

Yes, you may prepay the full amount due and receive a rebate of a portion of the finance charge in accordance with the rule of 78's.