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Theodore Said:

Insurance Premium-Due in FULL and UP FRONT...?

We Answered:

Some states require that, for personal auto and homeowners, a company offers payments.

NO states require that for commercial insurance. MOST companies, once you hit $25,000, will offer a payment plan, if it's through an admitted carrier. NONE will, if it's a surplus lines carrier. Most of the time, that payment plan, is contingent on you're paying EFT, or it's quarterly instead of monthly payments.

Bottom line - if your policy has a "100% fully earned" clause, you can't get financing unless the agent is guaranteeing you, to the company. It's probably not going to happen, for a new venture, or an agent that you don't personally know, because what it means is HE pays the premium up front - and if you cancel mid term, you don't get a refund, so HE is out $12,500 or whatever the balance you didn't pay, comes out to be.

Premium financing is EXTREMELY expensive, with aprs running between 15% and 29%. And frequently the broker gets a percentage of THAT.

But bottom line - if you don't trust your broker, don't buy a policy through him. AND, when you're comparing coverages for a cgl policy, you need to compare the RATE and the EXPOSURE basis, NOT the bottom line premium - as these policies are pretty much ALWAYS auditable.

Nathan Said:

Do you know those commercials from Allstate?

We Answered:

Sounds like you're in good hands.
That's my stand.

Georgia Said:

Help!its urgent My mom needs me to translate this text about APPLICABLE TO AUTO CLAIMS thing!but im not so sur?

We Answered:

yh its basically what you think it is, you will get fined for fraud:)