About Insurance Premium Finance

What is Insurance Premium Finance?

Insurance Premium financing provides a short-term loan for businesses and individuals to use specifically to pay for property and casualty insurance coverage. The premium finance loan enables the insurance policyholder, often called the insured, to spread payments throughout the policy period instead of paying the entire premium upfront.

Programs

Got Premiums offers flexible premium financing programs with multiple benefits to our agents/brokers and their insureds. A typical premium finance loan term will have a 25% down payment and nine or ten monthly installments. Other terms are available, so please call before entering a quote. Programs can be modified based on client history and needs.

How does it work?

Insurance agents/brokers partner with Got Premiums to offer financing to their insureds. An insured who wants or needs funding to cover a policy or multiple policies signs an agreement with Got Premiums. Based on that agreement, the insured pays a down payment, and Got Premiums pays the remainder of the premium amount. The policyholder makes payments on the loan to Got Premiums over time, as stated in the premium finance loan agreement. The insurance policy serves as collateral, facilitating an easy application and approval process.