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Premium finance

Looking to grow your business? Premium finance is a convenient way to better spread the payment for your insurance.

What is premium finance?

Premium finance can help spread the cost of your insurance cover through regular instalments.

Premium finance isn't insurance, but a solution for paying your insurance premiums. It means that you can pay for multiple insurance policies under one premium finance agreement, putting them all in one place so you only have one payment to deal with.

The benefits of premium finance

There are many advantages for any business:

  • Improved cash flow – by paying your insurance policy through regular, monthly payments rather than paying the whole premium as a large upfront payment, this can free up more cash to invest in your business.
  • Corporation tax relief – Premium finance is tax deductible, so you can claim tax back and improve your tax bill. This tax relief may not apply to all businesses, so you should seek your own advice.
  • A healthier balance sheet – For some businesses, premium finance monthly instalments can be classed as off-balance-sheet financing (OBS). This increases the health of your balance sheet, freeing up money to spend on your business and growth opportunities.
  • Multiple policies, no hassle – multiple policies can be financed on a single credit agreement and one monthly payment, so all of your business insurance needs can be paid for in one place.

Why choose us?

We're working with Close Brothers Premium Finance to offer premium finance to our clients. Close Brothers Premium Finance is the most experienced provider of premium finance in the country - funding insurance for one in seven UK families and one in 20 UK businesses.1

We're an experienced insurance broker and we can support your business with more than just premium finance. We can assist with finding you a better insurance deal, risk management, claims, business interruption and more. We have vast experience in many different industries, and we understand the challenges you face day to day.

Premium finance FAQs

Premium finance is a convenient way to pay for your business insurance as you spread the cost by paying monthly rather than a large sum upfront. After you’ve chosen the insurance policy that works for you, Close Brothers Premium Finance provide you with a simple digital journey to review and sign your credit agreement – then they pay us the full cost of your premium. You then repay Close Brothers Premium Finance in monthly instalments by direct debit.

There’re many benefits to premium finance, including:

  • You can manage your cash flow more effectively by avoiding large upfront payments.
  • You can get a deduction against your corporation tax charge for premium finance interest charges.
  • For some businesses premium finance can be classified as off-balance-sheet financing (OBS). This increases the health of your balance sheet, freeing up capacity to borrow and even improving short-term net asset value.
  • Multiple insurance policies can be financed on a single credit agreement, so you can manage them all in one place and payment.