Agent Information

What is Insurance Premium Financing?

Insurance Premium financing is a method of borrowing the cash to fund a business insurance need.

Business insurance premium policies can be a big expense, sometimes a significant portion of a business’ profits so they may need to choose cash flow over cost. In order not to deteriorate their capital savings, and possibly hindering their ability to purchase more inventory, cover pay roll and operating expenses, your clients choose to spread this cost over a period of time (usually about 9 months).
This type of insurance financing is not new to the market place in fact this has been a common practice for over a century.

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How Does business insurance premium financing work?

The client, as borrower, applies for an insurance policy. Once an underwriting offer has been made, the client then submits a premium financing application with C3.

C3 will then establish the terms of the note, including the business loan interest rate and payment schedule. For more information on the process please visit our “How does insurance premium financing work” page.

Benefits for Insurance Agencies, General Agents & Insurance Companies

Premium financing offers many benefits to agencies, including:

  • Improved cash flow
  • Reduced accounts receivables
  • Reduced billing and collection expenses
  • Increased annual investment income
  • More options for your insureds
  • More time for selling

The Benefits of Common Cents Capital

Premium Financing Specialists offers agencies customized plans, advanced technology, and superior, local service.

Common Cents Capital has a variety of solutions that you can customize to your needs. All plans offer:

  • Flexible payment options with no pre-payment penalties
  • Attractive rates and terms
  • Convenient funding alternatives

In addition, C3 offers insurance agents a broad range of revenue sharing programs where permitted.

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