What's a Good Financial Company to Work With?

[robtmccarthy]

Premium Finance co is used for commercial insurance, typically E&S policies.

Some Ins. companies also don't want to take payments due to a businesses poor payment history or whatnot. Finance companies aren't cheap usually cost your client 10-15%

 

[xrac]

Newb question...why do you need a premium finance co? Are these for customers that can't pay their premiums?

There are customers who are asset rich but cash poor or customers who would to deploy their cash for other purposes but they need and want the insurance coverage. Someone who owns a growing business or a lot of real estate could be someone in this situation.

 

[passivesf]

thanks for the answers!