Yes, they may. Like any installment plan, insurance premium payment plans may include interest or fees. You should ask your insurance representative how much the interest or fees will be.

Most insurance companies write non-assessible policies. A non-assessible policy is one for which there is only one rate. Therefore, if an insurance company has a year full of catastrophes, it cannot ask the policyholder for more money. On an assessible policy, the insurance company could ask the insured for more money to cover losses.

Liberty Mutual writes only non-assessible annual policies on which rates may increase at renewal, but you will never have to pay more for insurance you have already purchased.