How can Premium Funding help my business?

Premium Funding is a great way to smooth out your business insurance costs over the course of the year.

It means rather than having to pay the total amount of the premium upfront, the business can pay it off in instalments, plus interest. The cost of the interest will usually be a tax deduction for the business.

Premium Funding involves borrowing an amount to cover the cost of the firm’s insurance premiums, in addition to interest payable on top of the amount borrowed.

“This type of funding suits businesses with lumpy cash flow”
This type of funding can be used to pay for a range of different business insurances including Tools insurance, Liability insurance and Plant & Equipment insurance. The funder may wrap up cost of the premiums into a single loan, allowing the borrower to pay for a range of insurance policies in a single payment.

It may be an appropriate option for businesses that may not have the full amount for the total year’s insurance policy available now but have the ability to pay it off over time.

Premium funding is also an alternative to approaching a bank for funding. Premium funders typically won’t require collateral in the same way a bank may require security.

Fitzpatrick & Co have specialised in the horticulture and arboriculture industry for over 30 years providing assistance and financial support to companies, associations and events. We are there when your industry needs you.

For more information or questions on Premium Funding or your own policy, please contact Fitzpatrick & Co. Insurance Brokers on (03) 8544 1600, email: OR visit the website at

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