What's Up with Good2Go (FKA American Independent Ins)?

that's a big part of their problem. that's the old school way of billing non-standard. doesn't work anymore. neither does low down-pay with accelerated installments (another quirk they ran customers off with). not to mention a $12 late fee if only one day late.

So how is non-standard billing typically done?
 
So how is non-standard billing typically done?

I'm not sure what he would suggest as appropriate, but there is no "standard" way of doing it from what I can tell. Every carrier I deal with does it differently. The system I prefer offers 17, 20, and 25% down with due dates in 14, 20, or 30 days respective to the down payment. The flexibility is nice. I still only offer 20 or 25% down.
 
So how is non-standard billing typically done?

there is no "typical non-standard billing" anymore... each company does it a little bit different, like Indienoise said....

but when the prices are somewhat close, the companies that will write 17 or 20% down on 6 pay with no accelerated payments are going to write more policies than a company that requires 25% down, on either 5 pay, or 6 pay with accelerated payments.

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The system I prefer offers 17, 20, and 25% down with due dates in 14, 20, or 30 days respective to the down payment. The flexibility is nice. I still only offer 20 or 25% down.

I agree, except that I'm NOT a fan of accelerated payments.

I don't know why. Maybe it's because I live in an economically depressed area. But when I've written policies in the past with accelerated payments, those seemed to be the policies that had trouble with people paying on time. I would even warn them about that early installment, and they would still pay late.

Fortunately, I'm seeing less and less of that now.
 
When I first left life as a captive, I wanted 30 day due dates like I was used to.
Now, I prefer carriers that base due dates and cancellation dates on the equity an insured has in their policy. No pesky collection balances, and let's be honest, non-standard clients rarely pay attention to the actual due date. Just cancellation date.
 
let's be honest, non-standard clients rarely pay attention to the actual due date. Just cancellation date.

exactly right. but that part doesn't bother me too much, as long as I'm not having to re-write it. but accelerated payments seemed to cause the bulk of the re-write problems.

I'll allow one re-write, maybe two if they've been with me for a while.... but any more than that, I move them over to 30 day policies (or require paid in full if they want longer).
 
I have one carrier that does like I think you're talking about which is 30-day due date and then zero to 5 days after due date before cancellation based on some kind of algorithm that I have no clue about. My only problem with that is then I get people who have a lapse and start asking well what about my grace period? Damned if you do and damned if you don't
 
2016 was overall a down year for the non-standard business, but not completely. some carriers did very well.

in the case of Good2Go, I think their major problem was how they handled billing... you can't be a non-standard company and try to do billing like you're a standard or preferred company.... it never works!

Your right about that.
 
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