Premium financing, connected to your payments.
A practical guide to how insurance premium financing works — and how to collect down payments without leaving your workflow.
What is insurance premium financing?
Premium financing is a short-term loan that pays an insurance premium in full at binding. The insured makes a down payment, and a premium finance company covers the remainder and is repaid in monthly installments over the policy term. It is most common on commercial and surplus lines accounts where premiums are large and annual payment in full is impractical.
Down payments typically run 10% to 25% of total premium, with the balance spread over 8 to 11 installments. Terms vary by lender, state, and account size.
Quote the premium
The agency binds coverage and determines the total premium, taxes, and fees.
Generate the finance agreement
A finance company quotes a down payment, term, and rate for the insured.
Collect the down payment
The insured pays the down payment by card or ACH — this is where Simply Easier plugs in.
Lender funds the carrier
The finance company remits the full premium so coverage stays in force.
Insured repays in installments
Monthly payments run to the lender, with auto pay reducing cancellation notices.
Why agencies offer premium finance
- Larger commercial premiums become affordable without draining working capital
- Coverage binds faster because the carrier is paid in full up front
- The agency is not extending credit or chasing installments
- Down payments collected by card earn the insured rewards and clear instantly
- Fewer cancellations for non-payment when installments are automated
Already working with a finance company?
We connect to the leading premium finance providers