WHAT IS PREMIUM FINANCE?
Whether for personal or business use, insurance is essential for most of us but even when a competitive policy has been tracked down, having to shell out for a hefty payment or premium can come as quite a shock to the system. Quite simply, premium finance is a convenient way of paying for your insurance by monthly payments instead of having to cover the entire cost up front.
HOW IT WORKS :
When you take out a new insurance policy or renew an existing one, your insurance broker or insurance company can arrange premium finance for you at the same time. You can then spread the cost of the insurance by agreeing to make monthly Direct Debit payments.
If you decide that premium finance is the right option for you, your agreement will generally be with a specialist premium finance provider, like Premium Finance Limited. But whichever company you choose, they will pay the whole of your premium to your insurance broker or insurance company upfront and then collect the loan from you in monthly instalments.
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