We can answer all your questions.

Frequently Asked Questions

Why finance the insurance premium for my clients?
  • Premium finance allows insured to make a single payment for multiple policies.
  • It also allows for decreased down payment when broker fees are assessed, as broker fees may also be financed.
  • Carrier monthly direct bill fees may be greater than interest assessed by premium finance company.
  • Agents maintain tighter control over book of business through regular client interaction.
  • Increase revenue with addition of producer fees.
Isn't it less expensive for my clients to use direct bill through the carrier?
Most carriers incorporate billing fees with monthly installments. Billing fees can be greater than interest paid through premium finance.
Why should I choose Top Premium Finance?
  • Reliability and superior service is the focus – Hours of operation are Monday through Friday 8AM to 5PM – Calls are answered by live service representatives during hours of operation.
  • Top Premium Finance agents experience decreased cancellations due to the Top Premium Finance systematic pending cancellation notification process.
  • The requirements of each agency are as unique as the agency itself and Top Premium Finance has built a reputation for customizing premium finance programs for its partners.
  • 5% discount from Minimum Earned Premium (MEP) on renewals
  • 3 to 10-pay plans for commercial business
  • 0-4% flexible producer fee
  • Financed broker fees
  • Online endorsements
  • Top Premium Finance is a division of Premier America Credit Union
What are Top Premium Finance rates?
Rates vary based upon amount financed, type of policy, as well as agent status, volume and history. Contact Top Premium Finance for assistance with appointment and a quote.
How do I finance a policy with Top Premium Finance?
Request an appointment with Top Premium Finance. Once approved, you will be able to run a quote on any bound policy. After client acceptance, submit the Premium Finance Agreement (PFA) with simulating binder to Top Premium Finance. Loan funds within 48 hours when submitted in good order and within underwriting guidelines.
How do I get an appointment with Top Premium Finance?
Click "Become a Producer" on our home screen, and complete and submit appointment forms. You will be contacted within one business day.
What lines of business does Top Premium Finance finance?
Some of our most popular lines are Liability, E&O, D&O, HOA, Trucking, BOP, Cargo and Professional Liability.
Does Top Premium Finance finance all carriers?
Top Premium Finance will finance carriers who accept financing with AM Best ratings of “B” or better. Unrated carriers will require carrier underwriting to determine eligibility.
What down payment will be required of insured?
Down payment will vary by policy and is primarily determined by the carrier’s Minimum Earned Premium (MEP) and any additional fees. Most typical down payments are 25% of premium, 5% discount offered on renewals. Please contact us at (800) 458-2228 for further information.
What is Minimum Earned Premium (MEP)?
Minimum Earned Premium (MEP) is the minimum amount a GA or carrier will retain, should the policy cancel within 90 days of effective date.
Can I finance broker fees?
Please contact us at (800) 458-2228 for further information.
Does Top Premium Finance have a minimum production requirement for appointment?
There is no production minimum, however, agencies submitting larger volumes qualify for preferred rates.
What is the minimum/maximum premium Top Premium Finance will finance?
The minimum premium Top Premium Finance will finance is $300.00. Any premium in excess of $1,000,000 will require pre-approval. Please call 800-458-2228 for further assistance.
How do I submit a premium finance agreement to Top Premium Finance?
For greatest efficiency, an agreement may be submitted online once you have completed the Electronic Signature Agreement, have been granted Power of Attorney by your client and have received an approval via email. If you have not elected to submit with electronic signature, you may email the signed agreement to Top.Underwriting@TopPremiumFinance.com. Agreements via fax and USPS are also accepted.
Mail: PO BOX 2277 Chatsworth, CA 91313
Fax: (818) 721-3840
In which states is Top Premium Finance licensed
Top Premium Finance is licensed in Arizona, California, Colorado, Florida, Hawaii, Illinois, Kentucky, Nebraska, Nevada, Ohio, Oregon, South Dakota, Texas, Utah & Washington.