The process of acquiring funding is very simple. Firstly, we will need a copy of your PI quote from your insurance company.
Professional Indemnity
Insurance Finance
Why Professional Indemnity
Insurance Finance?
Professional Indemnity insurance funding explained
Professional insurance, often referred to as PI Cover, is a must-have insurance policy for those UK companies who offer advice or a service to clients. However, depending on what type of business you are, the yearly insurance premium can be one of the largest costs outside of payroll and office rent.
As opposed to paying the premium in one lump sum up front, we can finance this for you and break down the yearly cost to a monthly premium. Therefore in effect, you are paying and budgeting for PI cover over the term of the policy.
Can you finance professional
indemnity insurance?
Yes, subject to lender approval, we can arrange finance for your PI premium. Available repayment terms depend on the lender and premium; your written quotation confirms the term and monthly instalments.
Of course!
How does it work?
Then we can immediately send you a quote so you can see the monthly repayments.
Once you approve, we will then send your details to one of a panel of UK professional indemnity finance providers on our panel of lenders.
We normally aim for credit acceptance within 48 hours of receiving the required information, subject to lender assessment.
Professional Indemnity Insurance
PII Finance Calculator
From £10,000.00
£
Select Repayment Terms in Months
As with all financial agreements, this quotation is subject to approval based upon the credit status of the company applying.
What are the costs involved?
As the loan is over a short period of time, the actual amount of interest you pay is relatively small. Our quote will clearly outline what these costs are. However, our fees are included in the monthly premium, we do not charge you separately.
Can you pay off the premium early?
Yes, at any time you can settle off the outstanding monthly repayments, there is no early settlement charge.
How are the monthly
premiums collected?
All monthly repayments are collected via direct debit.
What is the average
premium financed?
Our average premium is
£97,000
However, the lowest PI premium we will do is £10,000
What are the benefits to funding a professional indemnity insurance policy?
The key benefit is you can keep the money in your business for other purposes and then accurately budget on a monthly basis. In effect, you are therefore paying for the service as you use it.
Cash Flow
Keep funds in your business to be used elsewhere. Take control of your finances and free up valuable cash for other purposes.
Alternative Funding Lines
No need to use up an existing bank facility. This gives you alternative options to use in order to finance your loans.
Fast Payment
After approval and completed documentation, the funder pays your insurance company directly. The team will confirm payment timing.
