Premium Finance Payment Options
As a premium finance company, we provide Independent Agents and MGAs with flexible and convenient payment options for agency bill customers to pay premiums when carriers require payment upfront. We understand that managing the cost of insurance is important to retaining customers, and our premium finance solutions are designed to offer your customers more flexibility when it comes to paying premiums. Here is a range of payment options below to find the one that best suits your agency bill needs.
1. Monthly Installments:
Our most common option, monthly installments, allow customers to break down insurance premiums into 9 or 10 monthly payments. This approach offers the lowest installment amount and spreads out the cost over smaller payments, making it easier to align cash flow with revenue streams.
2. Quarterly Payments:
For customers with stable seasonal revenue cycles, our quarterly payment option offers a balanced approach. Customers will make payments every three months, giving them the flexibility to match premium payments with cash flow. It’s an excellent choice for those seeking a middle ground between monthly and annual payments
3. Semi-Annual Payments:
Prefer a less frequent payment schedule? Our semi-annual option might be the ideal fit. With two payments per year, customers have fewer transactions to manage, and the convenience of reduced administrative overhead. This option works well for businesses that experience fluctuating revenue but prefer to make larger payments less frequently.
Selecting the right premium finance payment option is an easy step in maintaining customer retention. Our team is ready to guide you through the process, helping you choose the option on the finance agreement. Whether writing a policy for a small business or a large enterprise, we’re committed to providing the flexibility customers need to manage agency billing effectively.
At Southern Access, we believe that premium finance should be straightforward, flexible, and easily tailored. With our range of payment options, you can drive your business forward with our premium finance solutions. Contact us today to discuss premium finance payment options and how to create finance agreements.