Why do I have to pay more when I make changes to my policy?

When you make changes to your policy, the insurance company will reassess your premiums. OCHO takes no part in the pricing process. The insurance provider makes this decision, based on the new information. 

If the cost goes up, your payment plan or loan agreement with OCHO needs to be updated too.

 

Let’s look at some examples: 

This means you’ll need to pay the remaining balance on your policy plus any premium increase in one lump sum. 

A customer recently wanted to replace their vehicle with a Tesla, but they had only 19 days left on their policy. The insurance company reassessed the coverage and decided to increase their premium by $380. With so little time left on the policy, we couldn’t break this increase into manageable chunks. The customer had to pay $439.50 for their final installment (the increase plus their usual payment amount).