Accounting

Deans & Homer offers agency bill and direct bill accounting for both standard and surplus lines. Two payment and four payment installment options are available subject to a $4 fee per installment. (No fees apply in Washington).

Agency Bill

Net premium payment is due 45 days after the end of the month in which the policy takes effect. If the policy is issued after the inception date, the due date is 45 days after the end of the month in which the policy is issued.

Click on the image below for a detailed example with explanation.

Direct Bill

Premium is due on the effective date of the policy or 26 days after the date of issue, whichever is later.

Installment payments are due on the date printed on the statement.

Mid-term endorsement premiums are included in the next installment. If the policy is not on installments, a mid-term bill will be generated.

Click on the image below for a detailed example with explanation.

Issue Date

The issue date appears at the bottom of the policy declarations.

If you have questions about the accounting for a particular policy, please call your underwriter or call our home office at (800) 345-2054 and ask for the Accounting Department.