A: The insured must contact his or her insurance agent for
financing. The agent will contact Forest Financial for a
quote/finance contract. A down payment is collected when the
insured signs the finance agreement. The agent then forwards the
agreement to Forest Financial for processing. Forest Financial
pays the amount financed to the agent or Insurance Company and
sends payment coupons to the insured. The insured then makes
monthly installment payments to Forest Financial.
A: There is a five day grace period on each installment. If
the payment has not been received by Forest Financial by the end
of the grace period, a Notice of Intent to Cancel is issued to
the insured and a late fee is added to the installment amount
due. This notice gives an additional fourteen days notice. If
payment has not been received at the end of fourteen days, the
policy(ies) financed by the contract may be cancelled.
W. J. Cox Associates, Inc.
9600 Main St,
Clarence, NY 14031-2093