What is a premium statement?
The premium statement is a bill generated only in the following cases:
- Upon termination of the policy
- When a change to your policy has an impact on your premium.
The premium statement therefore regulates your accounting situation in line with the changes made to your policy and what you have already paid. It can be either a bill or a refund (credit note).
Mr Martin took out a car insurance policy on 18 March 2010 and chose an annual payment interval: He must therefore pay the sum of € 1,000 each year on 18 March.
Today (18 July 2018), he has decided to change his policy by adding a new cover, which increases his annual premium to € 1,200.
Here is what happens:
Conversely, if Mr Martin chooses to withdraw a cover from his policy, his premium statement will be a refund and not a bill.