Confused about Dominion Prem MSP charge on bank statement? Learn about The Dominion of Canada General Insurance Company’s premium payments & what to do if you see this charge.
What is Dominion Prem MSP Charge on Bank Statement
If you see Dominion Prem MSP charge on bank statement, don’t panic. This is likely a recurring charge for a premium payment to The Dominion of Canada General Insurance Company. Let’s break down what this means and what you might need to do.
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Who is The Dominion of Canada General Insurance Company?
The Dominion of Canada General Insurance Company, or simply “The Dominion,” is a Canadian insurance provider that offers a range of insurance products, including:
- Auto insurance
- Home insurance
- Business insurance
What does “Prem MSP” mean?
- Prem: Short for “premium,” this refers to the regular payment you make to keep your insurance policy active.
- MSP: Depending on your location, this could stand for “Monthly Service Plan” or a province-specific term such as “Medical Services Plan” (common in British Columbia).
Why is the Dominion charging me?
The most likely reason you are seeing this charge is that you have set up an automatic payment plan (sometimes called a pre-authorized payment plan) with The Dominion. This means that they automatically withdraw your insurance premium from your bank account on a set schedule (usually monthly).
What to do if you see the Dominion Prem MSP charge
1. Verify your policy: Check if you have a current insurance policy with The Dominion. Look through your insurance documents or contact your insurance broker if you are unsure.
2. Review your billing schedule: Refer to your insurance policy documents to understand when your premiums are due and confirm the amount. This will help determine if the charge is correct.
3. Contact The Dominion: If you have questions about the charge, need to change your payment method, or want to adjust your policy, contact The Dominion’s customer service directly.
Important Notes:
- Automatic premium payments are convenient for both you and the insurance company as they reduce the possibility of missed payments.
- If you believe the automatic withdrawal is unauthorized or incorrect, contact your bank immediately for information on how to dispute the charge.
FAQs: Dominion Prem MSP Charge on Bank Statement
What is the Dominion Prem MSP charge on bank statement?
The Dominion Prem MSP charge on bank statement is likely a recurring payment for insurance premiums to The Dominion of Canada General Insurance Company.
Who is The Dominion of Canada General Insurance Company?
The Dominion, also known as The Dominion of Canada General Insurance Company, is a Canadian insurance provider offering various insurance products including auto, home, and business insurance.
What does “Prem MSP” stand for?
“Prem” is short for “premium,” referring to the regular payment for your insurance policy. “MSP” could signify “Monthly Service Plan” or a province-specific term such as “Medical Services Plan,” depending on your location.
Why am I being charged by The Dominion?
You are being charged by The Dominion because you likely have set up an automatic payment plan with them, where they withdraw your insurance premium from your bank account on a predetermined schedule, typically monthly.
Disclaimer: This blog post is intended for informational purposes only and does not constitute financial advice. Always consult with a financial advisor for personalized guidance.
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