Why Should Insureds Finance?
By working with agents to create a quote through IPFS, insureds can have financing options available in minutes with no financial information required. Once a Premium Finance Agreement (PFA) is signed, which can be done electronically depending on your state, installment payments can be paid by mail, phone, fax, pre-authorized account debit, our secure website, or our IPFS Connect® mobile app.
Premium finance provides insureds:
- Preservation of capital: Insureds experience amortization of payments over the term of the loan and retain more working capital to invest in other business opportunities
- Availability of credit: Insureds can keep credit lines open for other business purposes
- Higher returns: Insureds can earn more on the retained capital than they would by prepaying for insurance premiums
- Affordability: Insureds are able to purchase additional coverage at a competitive rate
- Fixed rate: Insureds can take comfort in knowing the principal rate and payments will not increase over the term of the loan
Types of Coverage
Some of our most frequent finance agreements include:
- Property & Casualty
- General Liability
- Commercial Auto
- Professional Liability
- Workers' Compensation
- Errors & Omissions
