Payment of premiums

Premium Payment

For the payment of premiums for Hienfeld insurance, you can use our IBAN: NL66 ABNA 0411 3496 00, in the name of W.A. Hienfeld B.V., specifying your customer number.

What can I expect in terms of reminders if my premium is not paid on time?

A first reminder 30 days after the booking date, requesting payment within 14 days from the date of this reminder.

A second reminder 15 days after sending the first reminder, requesting payment within 15 days from the date of this reminder.

What risks do I face as a customer if my premium is not paid on time?

If you do not settle your premium within the timeframe mentioned in the second reminder, we may suspend the coverage of the relevant insurance(s) and/or terminate the insurance(s). You will be notified of this in writing.

Suspension

If we do not receive the above-mentioned amount or it is not received in a timely manner, we may suspend the coverage under the listed insurance(s). When we suspend the coverage, we will notify you in writing. The suspension is retroactive to the first day of the period for which the premium was due. This means that there will be no coverage for any events occurring or having occurred after the premium due date. We will reinstate the suspended coverage on the day after we have received the total amount due (premium, collection costs, and interest). If you pay us in installments, we will reinstate the coverage from the day after you have paid all outstanding installments. If you remain in default, we may terminate the suspended coverage.

Termination

If we do not receive the above-mentioned amount or it is not received in a timely manner, we may also terminate the insurance(s). We will notify you of this in writing. We will suspend your insurance starting from the first day for which you owe a premium and terminate the insurance on the date of sending the termination letter. A terminated insurance cannot be reinstated, even by paying the outstanding amount (premium, collection costs, and interest).

Please note: Despite the termination of the insurance or suspension of coverage, you are still obligated to pay the total amount due (premium, collection costs, and interest).

Collection Costs

If we do not receive the outstanding amount after the second reminder within fifteen days from the date of the reminder, we may transfer the total outstanding amount to Bos Incasso B.V. We may also increase the claim with an amount of € 40.00, excluding 21% VAT, as collection costs. We are entitled to do so according to Article 6:96 of the Dutch Civil Code and the Decree on Compensation for Extrajudicial Collection Costs.