Payment Plans

Farmers Mutual of Tennessee offers Annual, Semi-Annual, Quarterly and 10-Pay Monthly (ACH required) installment payment plans.

Billing Information

For those selecting the Quarterly or Semi-Annual payment option, there will be a $6.00 installment fee assessed for each quarterly payment. All Monthly payment plans are set up through ACH only (EFT) and require a completed authorization form. Payments are withdrawn from the insured’s bank account in 10 payments taken out in monthly installments during the policy term.

General Conditions

Payment is required within 30 days of the policy being issued. Payment can be made at the time the application is submitted to Farmers Mutual of Tennessee. The insured has the option to pay the total Annual premium or choose the Quarterly or 10-Pay installment plan.

Any premium adjustments resulting from changes to the policy will be reflected in subsequent bills.

Cancellation Policy

We follow the laws of the State of Tennessee governing the cancellation of property and casualty insurance policies. If a policy is cancelled, any unearned premium will be refunded on a pro-rata basis. If a payment is not received by the due date, a cancellation notice for non-payment will be issued.

To Cancel an EFT Withdraw

We require written notice at least 3 business days prior to the next scheduled withdraw. Send written notice to Farmers Mutual of Tennessee, P.O. Box 3428, Knoxville, TN 37927, ATTN: Accounting Department OR go to “Contact Us” and submit your request electronically.

Refund Policy

Any refund of premium will be made by check and mailed from the company to the mailing address of the policy's last payee.

Non-Sufficient Fund (NSF) Checks

Insufficient funds on premium paid by check will result in the policy coverage being cancelled. If the company elects to reinstate the policy, premium must be paid and a $15.00 fee will be charged.

Policy Processing Fee

A $20.00 policy processing fee will be applied, reduced to $10.00 for policyholders who choose paperless communications. This fee is paid in full with the first installment.

Please contact us directly with questions.