About the Monthly Policy Administration Fee

About the Monthly Policy Administration Fee

• What is this?
  • Similar to taxes, this is a passthrough cost that covers the fees to file a policy with each state. It ensures your policies continue to be filed in compliance with state regulatory requirements while addressing the increasing costs and complexity of state regulations.
  • The Policy Administrative Fee is a monthly fee for filing each policy with the state. The fee is paid per policy, NOT paid per property or per reservation.

• How much is the Policy Administration Fee?
  • The Fee is $25 per active policy with insured reservations in the invoice month. This fee is per policy. It is NOT per property or per reservation.
  • If you utilize two or more Safely Protection Policies in any given month, the $25 fee will apply to each policy with insured reservations. For example: If you have two active policies during the month, you will pay $50 for that month.
• Does this mean you will be charging an extra $25 for every reservation? 
  • No.  If you have 1 policy the most you will be charged in a single month is $25.  
  • If you have more than one policy, Safely will charge $25 per month for each policy with insured reservations.
• Does this mean you will be charging an extra $25 every time I file a claim? 
  • No.  If you have 1 policy the most you will be charged in a single month is $25.  
  • If you have more than one policy, Safely will charge $25 per month for each policy with insured reservations.

• If I only rent out my properties during a few months each year, will I be charged the new fee every month?  
• • No.  The fee is only charged in months that you have insured reservations.  The fee covers the cost of filing the insurance with the state.

• Are there more pricing increases coming?
  • We aren't expecting further increases in the foreseeable future, but claims losses ultimately determine the majority of the cost of our policies.  We are continually working to manage losses to keep premiums as low as possible.
• Is there anything I can do to reduce my Safely insurance cost?  
  • We can do a review of your current policy and see what recommendation we can make.  In the near future, we expect to roll-out new coverage options that will offer more ways to reduce the cost of the Safely policy. 

If you have additional questions, reach out to the Safely Customer Happiness team at concierge@safely.com.