Whether it’s for personal or business use, insurance is essential for most of us. For many, paying a hefty insurance premium in one go can put a strain on the budget. MoonGate Group Ltd. has created an affordable solution: MoonGate Premium Finance (MPF).
This service helps businesses and individuals pay for their insurance by spreading the costs over regular installments, instead of them paying the whole premium up front. The service is fast, easy, convenient and affordable.
We’re starting with Motor Insurance and TCD Licensing Fees
Learn more about this exciting, new product – a first for Bermuda; a first for you!
Leon L. Bascome
CEO - MoonGate Group Ltd.
WHAT IS PREMIUM FINANCING?
Premium finance is a convenient and affordable way to pay for your insurance. Rather than having to find a large sum up front to cover the premium, you can instead spread the cost by paying in smaller regular installments. It can help you budget more effectively.
After you have provided some personal and bank details, we will prepare all the necessary paperwork and tell you all the details you need to know. These include confirmation of the loan to pay your insurance premium, the amount of your regular repayments and when they will start and finish.
We will also ask you to sign a Premium Finance Agreement. You will have instant secure access to all your account information including your Direct Debit amounts and correspondence.
When you register for your online account, you will be able to keep tabs on how much you’ve paid, settle any missed payments and update any changes to your personal and bank details.
We pay your insurance provider and will then collect your repayments by monthly Direct Debits.
Premium Finance Agreements are available to over-18s only and are subject to repayment capacity and financial status. Lending criteria and terms and conditions apply; a Co-Applicant may be required. It’s important to remember that if you don’t keep up your monthly payments your insurance may be affected.
The Benefits of Premium Finance
- Improved Cash Flow – pay in installments rather than in one lump sum
- Cost effective way of spreading the cost
- Online applications – it’s fast and easy to get started
- Multiple insurance policies can be attached to one contract
- The convenience of paying by monthly Direct Debit
- Online access to your customer account
HOW IT WORKS
STRATEGY. > CREATIVE. > RESULTS.