Upon your initial enrollment, we take a payment the date that you purchase the policy, however, the coverage for the insurance will not begin until your selected start date.

If you have chosen the annual payment plan, then this is the only charge that GradGuard will take from you. Once again, it is taken on the date that you purchase the policy, not the date that the coverage begins. If you have selected to auto-renew the policy, we will remind you at least 30 days in advance that your policy is set to renew. 

Customers also have policy periods when they are billed annually. Just like the monthly payment options, policy periods run from month to month and only full month refunds are offered where applicable. We DO NOT offer partial month refunds to customers regardless of their billing option.

If you've selected the monthly payment option, then we take a monthly payment on the date you purchase the insurance, then your next payment will come out 15 days after the start date of your policy; that date will now be your recurring payment date when the monthly premium is automatically taken out of your account.

*For example, if you purchase a policy on June 2nd, but do not want the coverage to start until July 1st, then you will be charged your first months premium on June 2nd; this payment is for your first full month of coverage going from July 1st to August 1st. Your second payment that comes out 15 days after the start date of your policy which would be July 16th is for the next months worth of coverage going from August 1st to September 1st; so on and so forth.