frequently asked questions
Tel: (619) 330-1153
Which states is BIZ Premium Finance licensed in?
We are only licensed in California, and are in the process of applying to be soon licensed in Texas and Arizona.
How can I get appointed with BIZ Premium Finance?
Just need to click on “Get Appointed” on our home page. Complete and submit the form. You will be contacted within one business day.
What does BIZ Premium Finance offer?
- Honesty and excellence in service
- Customized premium finance solution suited to your agency’s particular needs.
- Agents may select 0% to 4% of Producer Fees.
- We also offer a finance broker fee program.
- Single payment solution for multiple policies.
Which insurance carriers does BIZ PF Accepts?
- “B+” rated or better with AM Best.
- Non-rated Carriers would be analyzed on a case by case basis to determine acceptability.
What Insurance policies does BIZ PF finance?
- We specialize in Personal and Commercial Auto, covering Liability, Physical Damage, Cargo & General Liability
- We also accept property damage policies
Minimum/maximum financial limit?
- The minimum limit is $250.00.
- Loans over $250,000 please contact directly (619) 330-6253.
Are there any requirements for the down payment?
- Even though most common Down Payment is 20%, it may vary by type of policy and is subject to the carrier’s Minimum Earned Premium (MEP).
What is Minimum Earn Premium (MEP)?
- Minimum earned premium is the minimum amount of the premium that is fully earned by the carrier and must be collected in the down payment.
How do I begin to be able to submit premium finance loans to BIZ Premium Finance?
- Request an appointment with BIZ Premium Finance – Download form from the website and submit – We will contact you within one day.
- Submit the executed Premium Finance Agreement (PFA) after approval.
- Commence quoting to your customers and submit to underwriting directly through our platform.
- Funding will be provided after review and approval from underwriting.