Commercial Premium Financing For Corporations and LLC's as Low As 4.75%
Typical Premium Financing Terms:
Insured Customer Qualifications:
Typically we qualify our insured borrower based upon the insurance policies being purchased, as far as using a qualified insurance company, in a state where we do business (Most companies are qualified), and purchasing an insurance policy with terms that permit the insurance company's premium to be technically earned on a day to day basis, over a one year term, or possibly longer.
Usually the borrower's credit score does not impact the interest rate, and insurance premium loans are generally very quickly made available, at competitive interest rates for almost every commercial insurance customer who wants to pay on a monthly basis.
Typical Insurance Premium Financing Terms:
Most customers are only required to make an insurance premium deposit equal to about 15% of the annual insurance premium, in addition to any other taxes or expenses that are required to be paid at policy inception.
Some insurance policy financing will require a 25% deposit because the policy will state that the minimum premium is equal to 25%. Of course if the deposit is more than 15% of the premium, the monthly payments will be reduced.
Typical Repayment Terms:
Include 15% down payment and 10 monthly level payments. However, fewer payments are available upon request
Insurance Broker Premium Financing Incentives:
Insurance Brokers Placing Qualified Property and Casualty Insurance Policies Through Cover Agency, Ltd should inquire about extremely low interest rate premium financing, beginning at Interest Rates for Commercial Business Insurance as low as 3.75%