Insurance premium finance has been around for years and typically offered via the Insurance broker however usually at quite a premium.
In today’s market there are an increasing number of banks and finance companies who will compete stridently for this business and offer very low rates of interest as well as an easy, seamless finance approval process. Although this style of finance is typically over short terms (10 – 12 months), the savings can be thousands of dollars each year.
A number of banks now offer business owners very competitive and easy finance solutions for insurance premiums on both cancellable and non-cancellable policies.
There are typically no requirements for financials or personal guarantees for policies up to $250,000.
Types of Insurance Premiums that can be typically financed include:
*Requires a common due date
Recent examples of savings we have seen on Insurance Premium Finance have indicated around a 12% reduction on historic finance cost levels:-
So if you’re interested in spreading the cost of your insurance premiums over a 10, 11 or 12 month term and want to save a few extra dollars, contact your bank or a reputable finance broker.Finance for Insurance is very easy as the funder simply needs a copy of your insurance policy statement/summary listing all the policies and the annual premiums and they can take it from there.
The 5 minutes taken to make one telephone call and an email could reap several thousand dollars in cost reductions (not a bad hourly rate).
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