A premium finance company is a specialized lender that funds the annual insurance premium to an insurance company and structures convenient payment options to policyholders, allowing them to better afford their insurance premiums.

Policyholders lose the use of their capital if they are required to pay for their policy(s) in one lump sum.  With financing, policyholders can enjoy the luxury of managing their capital over the course of the year and having a flexible monthly payment plan in the process.  Interest costs for businesses are generally tax deductible, reducing the effective cost of financing.

Policyholders are provided online credentials upon acceptance of the finance offer.  Policyholders will be required to change their password the first time they login.

No Cost Options

Invoice: An invoice is delivered approximately 2 weeks before the payment due date.

Coupon Book: A coupon book is delivered immediately after the financing is setup.  

Recurring ACH: Payments are automatically debited from the borrower’s checking account on a pre-determined due date.
 

Convenience Options⁽¹⁾

Online Check or Credit Card Payment: A payment of any amount can be made at any time by either by electronic check (ACH) or with a debit or credit card from your computer, tablet or smartphone. Payments made by 4:00pm Eastern / 1:00pm Pacific will be applied to the account on the same day.

Toll Free Integrated Voice Response/Phone: You can reach us by calling 888-875-4000 and follow the prompt for making a payment over the phone or if you prefer, you can have a customer care professional assist you as well.

(1) Convenience fees are charged for all of the convenience options listed above. Whenever possible, we encourage policyholders to choose from the no cost options.

Yes.  Simply login to your account and select “Change Personal Info.” from the Navigation bar on the left.  Enter your email address if it is not already listed. Select the “Email Notices” box at the bottom of the screen and click Save.  Please note: Even if you have selected electronic delivery of notices, in some cases, state laws require us to mail certain notices to you via USPS.

Yes, in most cases we can add a policy endorsement to your existing account. To see if your account is eligible, contact your insurance agency for an Additional Premium quote.

If the policy premium was reduced due to an endorsement to a policy, the insurance company will send the refund payment to us.  Once received, we can modify the remaining installments accordingly.

In some cases we can extend the due date for a payment.  We would be happy to discuss your account, payment options and the timing to make payments.  Please call our Customer Care center for assistance.

If you have questions about your insurance policy, your coverage or a claim, please contact your insurance agent directly.  We are happy to assist you with any questions regarding the payments you have made on your account or any correspondence (written or electronic) that you have received from our office.

Your insurance agency can assist you with this request.

If you are considering a cancellation or a change to your policy, you would need to discuss those changes directly with your insurance agent.

Although we mail a Notice of Cancellation if payment is not received, only your insurance agent or insurance company can confirm if your policy is actually cancelled. Please contact you insurance agent or insurance company for assistance.

If you have received a Notice of Cancellation from us and you then make the payment amount required to bring your account current, we will send a request for reinstatement of your policy(s) to your insurance company.  It is important to note however that a reinstatement approval can only be granted by the insurance company.  In most cases, the insurance company will honor the request and reinstate your policy but not in all cases.  Questions relating to reinstatement of your policy(s) after your account is brought current should be directed to your insurance agent or insurance company.

There are no penalties for paying off your account early.  We are happy to provide a payoff balance to you over the phone or you can contact your insurance agent.

You have an obligation to pay off your account balance pursuant your finance agreement.  When the balance of your unused insurance is refunded to us by the insurance carrier, your account may be paid in full.  However, it is important to note that you are ultimately responsible for the balance on your account (including interest and fees) even if your insurance has been cancelled.

Under the Benefits tab on our website, please choose Forms from the drop down and select Application. Please complete the entire application form and submit it to us. If you are approved, we will immediately contact you with your agency credentials for quoting and managing your financed accounts using our agent portal.

We provide very flexible payment plans that can help meet the demands of your customers. During the set-up phase, we will work with you to establish the best solutions for your policyholders.

If you are already set up with us, you can obtain a quote online using your agency credentials or call our Broker Support group for assistance. If you’re new to us, please call our Broker Support group and they can assist you with your quoting needs. Toll Free: (888) 875-4000 (press #2)

Finance agreements can be submitted to us for processing in a number of ways including email, fax or electronically. Please be sure that both the agent and policyholder signatures (and date signed) are on the agreement.

Email: CommericalContracts@gotoPremiumFinance.com

Fax: (818) 598-2296

You may access any policyholder’s account through our agent portal. It may take 1 – 3 days after receipt in our office before an account becomes viewable through the portal.

For funding details, please enter the account number and then select the Disbursements tab. You can view the funding details such as the funding date, the amount of funding to be issued and to what entity the policy premium will be paid.