updated June 28, 2011


Our guest asks:

I am considering to Secure STM insurance but am a little confused on the rates. How much is their enrollment fee?

Their quote showed if I chose one payment for the $2500 deductible 80% it would be $331.20/mo + one time enrollment fee. If I chose monthly payments it quoted $426.37/mo + one time enrollment fee. That is quite a savings ($571.02) if I plan on taking policy for the longest period it is offered of 6 months.

It also says you may reapply if you still need insurance. I assume I would not have to repay the one time enrollment fee?

OnlineAdviser responds:

Yes, the savings can be significant for paying multiple months at once. The difference between single payment and monthly payment is about a 20% savings.

The application fee is $20 per policy. A policy may be for one month, six months or, in some states, 12 months. (The quote screen will indicate the longest policy allowed in your state). Two consecutive policies are allowed and you would pay the same price, including the enrollment fee, again for the second policy.

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