Premium finance approval is usually much simpler than a bank loan. The loan is secured by the insurance policy itself, so the questions are mostly about the policy, not about your personal credit history.
What your agent will send us
- The policy details — insurance company, policy number (or quote number), effective date, term and total premium, including taxes and fees.
- The signed premium finance agreement — signed by you, the insured. Electronic signatures are fine.
- Your business information — legal business name, mailing address, phone and email, so notices and payment reminders reach you.
- The down payment — collected by your agent.
What speeds it up
- Use your exact legal business name, the same as on the policy.
- Give an email and mobile number you check. Payment reminders and any notices go there.
- Sign everything at once — a missing signature or initial is the most common reason a file waits.
What can slow it down
- The premium changes after you sign (for example, a truck is added or removed). The agreement may need to be updated to match.
- The policy has fees the insurance company will not refund if cancelled. These are handled differently and your agent may ask you to pay them up front.
- An earlier finance account with an unpaid balance.
After approval
You will receive a welcome letter with your account number, payment schedule and how to pay. Keep it — your account number is what you will use every time you pay.
Talk to us
Ask your insurance agent to finance your premium with National Premium Finance Company, or get an estimate first. Questions? Call (214) 586-3155 or contact us. Hablamos español.