Temporary Payment Option in Response to COVID-19 Crisis

Update: This payment option ended on November 1, 2020. Effective November 19, 2020, policyholders can pay for their policy in two installments. TWIA must receive 50% or more of the premium to issue or renew the policy.

In support of our policyholders, TWIA is responding to the COVID-19 crisis by:

  • temporarily reducing the amount of premium due in order to issue a policy, and
  • providing 75 days to pay the remaining premium.

These changes are effective immediately and will remain in place for all new business and renewals until we determine it is no longer necessary.

Any TWIA policyholder who is experiencing financial challenges due to the COVID-19 crisis can use this option. Interested policyholders and their agents do not have to notify TWIA if they are using this option.


How this Temporary Payment Option Works

  1. 1. Pay at least 25% of the full premium prior to the effective date to have a policy issued.
  2. 2. No later than 75 days from the policy effective date, the remaining balance is due.

If the policyholder’s balance is not paid within the 75-day period, TWIA will issue a Notice of Cancellation (NOC) that states the policy will cancel if the delinquent balance is not paid by the end of the 15-day NOC period.

Important Points to Consider

Invoices Will Still Show a 30-Day Due Date
The policyholder’s invoice will still show the due date as being 30 days from the effective date. You may disregard this notice. Payment will be due as described in “2.” above (see: How this Temporary Payment Option Works).

Payment Options
At this time, the 25% premium down payment cannot be paid by EFT or ACH. It must be paid by check or money order and mailed to TWIA. Payment must either be received by TWIA on or before the effective date of the policy, or mailed on or before the effective date of the policy using one of the following United States Postal Service (USPS) methods:

  • USPS Registered Mail
  • USPS Certified Mail
  • USPS Priority Mail Express
  • Regular mail that is hand-cancelled by USPS

We are evaluating system changes that could enable this payment by EFT or ACH.

Premium Financing
If a policyholder is considering the use of premium financing, they may want to discuss their options with those companies before taking any action. This includes policyholders who are interested in making the initial payment themselves and premium financing the balance; this option would be offered at the discretion of the premium financing company.

For TWIA to accept a premium finance agreement, it must first be signed by the policyholder.

Reinstating Policies Cancelled for Non-payment
If a policy is cancelled for non-payment (of either the initial 25% minimum or the remaining balance) and the property owner wishes to reinstate their policy, it will be considered new business.

TWIA must receive at least 25% of the full policy premium in order to issue a policy and provide coverage. This applies to both new business and renewals.

Agent Commissions
Agents will continue to receive the full commission when a policy is issued under this temporary payment option (i.e. when the down payment is received).



Policyholders are encouraged to contact their agent with any questions or concerns about this temporary payment option. They can also contact the TWIA Policy Services team at agentservices@twia.org or at (800) 788-8247.