24 August 2018
Take the stress out of annual business insurance premiums with Insurance Premium Finance.
Annual business insurance premiums can be a hefty hindrance on your cash flow, but Insurance Premium Finance can help ease the pressure by spreading the payments throughout the year.
How it works
Insurance Premium Finance is a short-term lending solution that spreads your business insurance cost over an agreed term, ranging between 6 and 12 months. It is available to businesses with annual total insurance costs of $5,000 or more and is repaid in equal monthly instalments all under the one facility.
Why it’s a great solution
Being able to spread out the payment of your insurance expenses over the year could help with the management of your business cash flow. Most of your current outgoings, such as salaries, rent, leases, phone and power are generally paid in manageable instalments. However, when it comes to business insurance, most insurers expect you to pay your premium in one lump sum – which can be a significant strain on your cash flow. This is where your business could benefit from Insurance Premium Finance.
It’s super simple
In most circumstances, no security is required other than the insurance policy itself and Guarantees are only generally required for premiums in excess of $250,000 (exceptions may apply for Professional Indemnity Insurances). Plus we can take care of the application process for you, leaving you more time to focus on your business.
And it’s available on most types of business insurances, including:
- General Business insurance premiums
- Motor Fleet policies
- Public Liability premiums
- Professional Indemnity
- Motor Registration Fees and CTP insurance
- Workers Compensation premiums
So why not take advantage of our free service?
Shakespeare Leasing and Mortgage Solutions is offering complimentary loan reviews for all our clients, so if you’d like further information about how we can help with your business insurance needs, get in touch with Peter (peter.elkerbout@shakes.com.au) or Damian (damian.lee@shakes.com.au) today.
General disclaimer: Our firm provides the information on this website for general guidance only, and does not constitute the provision of legal advice, tax advice, accounting services, investment advice, or professional consulting of any kind. The information provided herein should not be used as a substitute for consultation with professional tax, accounting, legal, or other competent advisers. Before making any decision or taking any action, you should consult a professional adviser who has been provided with all pertinent facts relevant to your particular situation. Tax articles on this website are not intended to be used, and cannot be used by any taxpayer, for the purpose of avoiding accuracy-related penalties that may be imposed on the taxpayer. The information is provided “as is,” with no assurance or guarantee of completeness, accuracy, or timeliness of the information, and without warranty of any kind, express or implied, including but not limited to warranties of performance, merchantability, and fitness for a particular purpose
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