What is Premium Financing?
April 18, 2019
As a business owner, financing your insurance premiums, and combining your commercial policies into one monthly payment is an effective way to manage your cash flow.
Put simply, premium financing is a type of loan that covers the cost of an insurance premium, generally provided by a private premium financing company. Using premium financing, a business can combine several premium payments, into a single payment that occurs in installments. This offers insureds several benefits:
- Flexible payment schedule and APR’s
- Less stress surrounding large premium payments
- More even cash flows month to month to keep their business running smoothly
In addition, premium financing is available on a wide variety of commercial property and casualty policies, including:
- Commercial Auto
- Commercial Package
- Umbrella Policy
- Commercial Property
- General Liability
- Errors and Omissions
If you think this could be a good option for your business talk to your agent about what premium financing options are available.If you are an agent who is looking to offer a competitive premium financing option to your clients feel welcome to learn more about how Roadrunner Premium Finance Company can help by emailing support@roadrunnerpfc.com
