At CHU, you can now opt to pay your insurance premium via equal monthly instalments.
What are monthly instalments?
These are 12 equal monthly payments giving you the freedom to spread the total insurance premium equally over 12 months (no additional fees) or via one lump sum. Instalments are only available for the total premium payable, ie. it is not available to one lot for their part payment. There is no additional fee to pay via instalments, however, please note that if a payment is dishonoured there will be a late payment fee.
Which products?
Instalment option available for 12 month policies for the products below:
- CHU Residential Strata Insurance Plan
- CHU Commercial Strata Insurance Plan
- CHU Contents Insurance for Strata
- CHU Landlords Insurance for Strata
- Please note that customers who have requested a quote via Compare The Market will have access to instalment payments via IQumulate Premium Funding only
Who can pay via instalments?
- Instalment payment options are available to customers who acquire a policy directly through CHU.
- Instalment payment options are not available to customers who purchase through, or have quoted with Compare the Market within 30 days of policy purchase.
- Instalment payments for a policy must be made from a single nominated account. We are unable to accept instalment payments from multiple accounts or individuals for the same policy. The policyholder must ensure that all instalment payments are processed from the designated account.
How?
- For new CHU Residential Strata Insurance Plan customers you can complete the Online Direct Debit request form at the end of the online application form or complete this form and send it back to sales@chu.com.au or call our customer service team on 1300 289 248 during business hours.
- For CHU Commercial Strata Insurance Plan, CHU Contents Insurance for Strata and CHU Landlords Insurance for Strata or insurance renewals please complete this form and send it back to sales@chu.com.au or call our customer service team on 1300 289 248 during business hours.
- Once you have completed this form and your application is approved you will receive the instalment schedule, PDS and insurance certificate.
Auto-Renewal Payments:
If you have monthly instalment payments set up, your cover will automatically renew using the payment details you have already given us. If you don't want to automatically renew your policy or if you would like to change your payment method then please contact us before your renewal date. If we do not hear from you, we will assume your consent to renew your policy and continue your monthly instalments.
