Q: What is commercial premium financing?

A: Insurance can be a big ticket item for some businesses. With your help, a business can finance that premium payment on an installment basis. NCMIC Finance Corporation will pay the financed premium on behalf of the insured – and the insured repays NCMIC Finance Corporation on a monthly basis.

It’s a great way to create peace of mind and to improve cash flow for your insureds.

Q: How will my insureds benefit from premium financing?

A: Your insureds’ cash flow improves because premium payments will be paid on a monthly basis instead of on an annual, semi-annual or quarterly basis. And, in most cases, interest on premium finance loans is tax deductible. Check with your tax advisor for your insureds’ circumstances.

And, unlike bank loans, premium financing arrangements do not negatively affect your insureds’ existing credit arrangements.

Premium financing can also help your insureds who may want to consolidate multiple insurance policy premiums under one bill. It makes payments and recordkeeping easier. And with FinancePro, insureds have online access to their account information at any time.

Q: How do I benefit from premium financing?

A: Premium financing can help your insureds – and our program makes it easy for you to offer these convenient services:

• Quote and print completed finance agreements online
• Online account viewing and payments (for both the agent and the insured)
• Convenient payment options to prevent costly cancellations and rewrites
• Automated payments via checking account or credit card
• Check-by-Phone
• Check-by-Fax
• Credit Card by Fax
• Credit Card by Phone
• Competitive terms and rates – we’re always looking for ways to help you and your insureds because we understand that relationships matter
• Revenue sharing plans for your company (allowed in fee legal states)
• Online reporting
• New Business Production Report
• Account Status Report
• Pending Cancellation Report
• Quote Listing Report

Q: How do I get started?

A: It’s easy! Just complete the online request form or call us at 800-600-9250 to get started. If you have any questions, we’re just a phone call away.