What policies are eligible for financing?
•Agency billed policies
•Policy Term Lengths: 6, 9, 12+ months
•Policies with minimum earned premium less than 50%
•Minimum annual premium of at least $400
•Able to combine multiple policies on one finance agreement
What payment plans are available for my insured?
•Monthly, quarterly, and semi-annual
What will the down payment be?
•The fully earned portion of the policy per the carrier and general agent which is nonrefundable once you bind the policy
What is minimum earned premium?
•The amount of premium that is fully earned and non-refundable upon binding coverage per the carrier
What documents do I need to set up financing?
•Signed finance agreement
•Agency collects the full down payment or send CPF the down payment authorization form if required
Where do I send the signed documents?
•All finance documents need to be submitted to CPF via email or fax 877-679-0857
How is the interest rate decided?
•The interest rate is a very competitive rate based on the size of the premium (lower rate for larger premiums). For policies under $1,000 the finance charge can be as low as $3 a month!
Can CPF bind a policy?
•No! Only your underwriter can bind the policy.