Premium Financing - Best Value?

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cbevington
Insurance Journal Enthusiast
Posts: 12
Joined: Wed Nov 14, 2012 6:11 pm

Premium Financing - Best Value?

Post by cbevington »

I have a high end personal lines account that wants to make payments monthly. Total annual premium is over $15,000.

Which financing company offers competitive rates, good payment terms (smaller up front payments) and provides good service?

I am "shopping" with three companies at the moment, and would love some feedback on your favorites.

Thank you.

Christian Bevington - California
mightyquinn
Insurance Journal Addict
Posts: 61
Joined: Fri May 09, 2008 1:04 pm

Re: Premium Financing - Best Value?

Post by mightyquinn »

For flexibility & value I've found that IPFS is the best. Caveat is that instead of just working their online site you should call them and discuss the situation to see how much they can deviate from their norms. Website is at http://www.ipfs.com . I'm a wholesaler so I've had to deal with most of the finance companies from time to time..and I do the financing for several of my clients ....so I know from whence I speak.
________________________________
"Free" ain't free
maryh
Insurance Journal Fan
Posts: 6
Joined: Thu Nov 19, 2009 3:26 pm

Re: Premium Financing - Best Value?

Post by maryh »

I am partial to the company I work for...Express Premium Finance

What kind of premium financing experience your insured has effects you!

Increase your retention ratios in today's tough economy with Express Premium Finance.

Call 832-766-7977 now and compare!
On-line quoting/payments/account access 24/7!
Superior service and attention!
No production requirements!
Competitive Rates!
Agent Hold 5 days on pending cancellations!
No charge for payments w/check over the phone! Automated system in English and Spanish. Credit Cards payments accepted. No Charge for ACH payments.
If you have any questions, please feel free to contact me at your convenience.

Thanks,
Mary Coovert Holeman
Senior Regional Vice President
Express Premium Finance Co
mary.holeman@expresspremium.com
Phone: 832-766-7977
http://www.expresspremium.com
joey52
Insurance Journal Addict
Posts: 27
Joined: Wed Mar 05, 2008 3:59 pm

Re: Premium Financing - Best Value?

Post by joey52 »

Do any of these companies finance premium due from audits? thanks
yoyowordup
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Posts: 184
Joined: Wed Jan 05, 2005 1:43 pm
Location: The Valley of the Sun - AZ

Re: Premium Financing - Best Value?

Post by yoyowordup »

Out of curiosity, why aren't his policies direct billed? Most High Net Worth client carriers have DB options.

If he has high net worth, does he/she not have enough to pay in full and save the finance charges? Most High Net worth clients can see the value in not financing their premiums.
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