Payment Information

NYSIF tries to provide all policyholders with the most suitable payment plan. Policyholders have the option to pay by mail, or pay online by electronic funds transfer or credit card. Note: Payment by credit card is through a third party provider who charges a convenience fee for using this service. There is no fee to pay by electronic funds transfer.

Policyholders on a payment plan need to be aware of the following important payment information:

• First payment must be received prior to policy inception or renewal date.
• The monthly due date is based on the date your policy starts/renews.
• You have the option at any time to pay in full or pay the minimum amount due.
• A $10 policy service charge is applied to each installment bill.
• All policy activity during the month is reflected in the next billing statement.
• Audit balances receive a minimum of three, and a maximum of 10, payments depending on when the audit balance is posted to your account.
• Unpaid audit balances are subject to a 1% monthly interest charge.
• No interest will be charged on audit balances paid in full.
• Minimum amount due must be paid in 30 days to avoid cancellation.
• Any bill sent after a cancellation date will note, "This policy has been cancelled effective dd/mm/yy."
• Payment is due immediately on all cancelled policies.

Mailed payments should include the invoice stub with the policy number written on the check. Please allow for payment to arrive five days prior to the due date to ensure sufficient time for NYSIF to receive and post payment to your account. If you misplace the payment envelope, please send payment to:

New York State Insurance Fund
P.O. Box 9204
New York, NY 10087