Capital Premium Finance FAQ

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Helping Insurance Agents

Navigate Insurance Premium Financing for 30+ Years

Capital Premium Finance Helping Insurance

Capital Premium Finance
Frequently Asked Questions


Q. How can Capital Premium Finance benefit my insurance business?
A.  Capital Premium Finance finances insurance premiums.  We provide your clients with affordable and easy monthly payments so that you can sell more insurance policies.  We also provide your agency with an additional source of income in the form of premium finance commissions (in states where allowed).

Q. What is the price range of the policies financed?
A. We finance anything from small policies under $500 up to large policies over $200,000, for both personal and commercial lines.  Many of our competitors only finance personal or commercial lines and also have established minimums.

Q. What are the premium finance commission options for commercial business?
A.  Capital Premium Finance offers multiple commission options for commercial business (in states where allowed):

  • Add up to 4 APR points to all contracts automatically
  • Add up to 4 APR points on contracts individually
  • See exact dollar amount of agent compensation before activating
  • Graduated flat fee per contract
  • CSR reward program – $15 per contract
  • Option to select our Max Plan on individual quotes for highest possible agency commission

Q.  What are the insurance commission options for personal insurance policies?
A.  Capital Premium Finance offers up to $60 commissions for personal insurance financing (in states where allowed)

Q.  What is the down payment for insurance premium financing?
A.  Capital Premium Finance finances homeowners’ policies for 15% down and 10 payments. On other business, our down payment is 20-25% and up to 10 payments.         

Q. How does the insured make loan payments to Capital Premium Finance?
A.  Payments can be made several ways:

  • Check sent by regular mail
  • Check images, sent by fax or email
  • Credit Card by phone or via our website
  • E-check via our website
  • Auto EFT debit from your client’s checking account

Q.  What if an insured misses their due date for payment?
A.  Capital Premium Finance takes extra steps to prevent policy cancellation:

  • Late and cancellation notices are sent to the insured by regular mail AND by email
  • Text messages and emails are sent to the insured regarding pending cancellation
  • Flexible due dates and cancellation holds are available
  • Daily late, initial and final cancellation lists are emailed to the agent
  • Payment status is available to the agent & insured on our website
  • Personalized emails are sent to the agent prior to cancellation with additional hold information

Q.  Do you charge reinstatement fees or additional payment fees?
A.   We do NOT charge reinstatement fees.  Our competitors typically charge $15.

Plus we do NOT charge additional fees for checks submitted by fax, email or web.  Our competitors typically charge $8 to $15 for this payment convenience.

Q.  How do customers and agents access their loan information?
A.  Reports and repayment status can be accessed 24/7 online.  Insurance agents can generate online quotes and finance contracts 365 days per year from anywhere they have internet access.

Also, our sales and support staff can be reached Monday through Friday between the hours of 9 to 5 EST.

Q.  What options are available for payment notices to the insured?
A.  Notices are sent to the insured in several ways:

  • Invoices and other notices by regular mail
  • Invoices and other notices by email
  • Text messages
  • Payment coupon booklets by regular mail

Q.  How does an insurance agent sign up to do business with Capital Premium Finance?
A.  All that is required is to complete a simple 1 page application form.  You can email or fax the form to us.  Click here for the form.

IMPORTANT NOTICE
Our phones and internet are down and aren’t expected to be restored until 5PM EST today Monday, January 23, 2017. Sorry for the inconvenience!