Rider Insurance Company, part of Plymouth Rock, has filed updates to its motorcycle policy payment plans in New Jersey, with changes focused on installment flexibility and payment methods rather than pricing.
The filing introduces an expanded installment structure, including a higher installment option for policies with larger premiums. Customers will continue to have access to one-pay, four-pay, and nine-pay options, with eligibility tied to total premium levels. New business and renewal business are treated slightly differently under the nine-pay structure, with separate down payment requirements.
A key addition is the ability to use recurring credit card payments across all plans, alongside existing options such as electronic funds transfer and scheduled bank withdrawals.
Service charges remain in place for installment plans, varying by payment method. Recurring credit card payments carry the highest fee, followed by standard installment plans and EFT-based payments.
