14-09-2017 04:42 PM
Is it necessary that auto insurance should be paid only from the bank account of the policyholder or can anyone pay on the policyholder’s behalf?
21-09-2017 05:33 PM
Insurers generally do not accept third-party payments and insist that the insured pay the premium from their own bank accounts. In select cases, an exception could be allowed, provided a direct linkage between the insured and the person paying the premium is established.
For example, for a car owned by a company, premium paid by the employee could be allowed. Insurers would generally ask for a declaration about the reason for the deviation and relationship with the insured. If the premium amounts are small, then several insurers will accept cash payment as well.