Smooth out your cash flow with GIO Pay by the Month by paying your insurance over 12 months, direct through your bank, building society or credit union account, or by credit card.
Instead of budgeting separately for your insurance, we can provide you with a simple monthly payment plan for one or all of the policies; Business Insurance, Business Insurance for professionals, Trade Insurance, Farm Insurance, Commercial Motor Vehicle. Of course, you can still pay your premiums annually if you prefer.
| You need to know... | Description |
|---|---|
| Available for | Business Insurance including:
|
| How to apply | Download the Pay by the Month Application Form (PDF, 35KB)
Simply print the form, fill it in and mail it to us at:
Reply Paid 1387 No stamp required If you prefer, email us now and we'll mail the brochure and form to you. You can also call into a GIO branch and pick up this material. If you like, one of our consultants will be available to help you complete the Direct Debit Request or Credit Card Authority 'on-the-spot'. |
| How monthly payments work | The policy is an annual contract paid by monthly instalments from your account or credit card debit. Your first payment will be deducted approximately 5 business days after GIO receives your direct debit request. The initial processing of this direct debit request may involve more than one instalment. Your payments will then be deducted monthly. |
| Fee | A low administration fee of $2.75 (including GST) per month per policy applies. No discounts apply to the administration fee. |
| Annual renewal process | You will be sent a renewal notice prior to the expiry of your policy. On receipt of your renewal notice you do not have to do anything, direct debits will continue to be debited from your account as agreed. If you wish to vary these arrangements please contact your GIO Insurance Representative. |
| Important Information | Pay by the Month operates on a direct debit facility and applies to all your elected business insurance policies unless you notify us otherwise. Your Financial Institution may charge a fee if there are insufficient funds in your account to cover any debits. If further information is required, please contact your Financial Institution. However, you should note that if an instalment of the premium remains unpaid for a period of at least 14 days we may refuse to pay a claim. If an instalment of your premium remains unpaid for a period of at least one month, we may cancel your unpaid policy/policies. If you have a claim which is a total loss the amount of any outstanding monthly instalments will be deducted from the amount of your claim. If you choose to cancel your policy there is no refund if you pay your premium monthly. |
| Direct Debit request service agreement | You have requested that GIO General Limited ABN 22 002 861 583 (User ID Number 045105) (we/us) debit, through the Bulk Electronic Clearing System (BECS), amounts that may from time to time become due in respect of your business insurance policy/policies from the account nominated in your Direct Debit Request. We advise you:
If you are uncertain about any of these items please check with your Financial Institution before completing your Direct Debit Request. You are responsible for ensuring that the account you nominated has sufficient cleared funds available to pay each debit when it becomes due. You must tell us if you close or change the account you nominated. Where the due date falls on a non-business day in Sydney and Melbourne we will draw the amount on the next business day. If you are uncertain as to when the debit will be processed to your account you should contact your Financial Institution directly. You may cancel your Direct Debit Request, stop or defer an individual debit or request a change to the debit amount by contacting your GIO Insurance Representative. Alternatively, you may request a stop or cancellation by contacting your Financial Institution. An alternative form of payment may be required. We must receive your notification at least 10 business days prior to the next due date to process your request in time. If you believe that a debit has not been correctly processed you should contact your GIO Insurance Representative or contact us on 13 10 10 immediately. Alternatively, you may dispute a Direct Debit Request transaction by contacting your Financial Institution. If debits are returned unpaid by your Financial Institution we will either attempt to debit from your nominated account again or we will contact you to arrange another way of paying. If an instalment of the premium remains unpaid for a period of at least one month we may cancel your unpaid policy/policies. If an instalment of the premium remains unpaid for a period of at least 14 days we may refuse to pay a claim. We reserve the right to cancel the direct debit arrangement if one or more debits are returned unpaid by your Financial Institution. We will keep all information relating to your account private and confidential. You consent to us using or releasing your account information to investigate any claim for possible incorrect debits. If the Insured has been fully indemnified for any insured property, the premium for the full period of insurance for that property remains payable, subject to the Insured's rights of cancellation under the terms of the policy. You fully indemnify us against any losses, costs, damages and liability that we suffer as a result of you giving us incorrect or false information in our Direct Debit Request. Your indemnity continues after this Agreement is ended. These arrangements are subject to change. We will provide 14 days notice of any changes. |
Next Steps
- Call us on 13 10 10 to get a commercial car insurance quote
- Learn more about GIO business insurance and workers compensation
- Visit a GIO branch