We anticipate your premium financing needs.
Learn about the AFCO-CRC premium finance loan process.
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CRC can automatically include an executable Premium Finance Agreement with each insurance quote. Please ask your CRC underwriter for an executable premium finance agreement.
Obtain the insured’s signature on the Premium Finance Agreement (PFA) and collect the down payment denoted on PFA.
The retail agent.
As a top-tier premium finance company operating in the U.S. and Canada, AFCO is part of the BB&T Insurance Holdings and Premium Finance group and a subsidiary of BB&T, one of the largest financial services holding companies in the U.S. Bank. Working directly with insurance agents and brokers, AFCO provides the loans that finance commercial property and casualty insurance. Whether the insured business is large or small, AFCO customizes insurance financing as needed to help agents and brokers support their clients across the spectrum of industry needs. Additional information is available at afco.com.
20% down and 10 monthly installments.
Rate will vary based on prevailing interest rates and size of annual premium.
Details may be found in the Convenient Payment Options flyer.
Yes, please have insured complete this form.
Yes as such you will get copies of various delinquency invoices.
You can access the insured information via AFCO’s website at afco.com. All you need is the insured's AFCO account number and zip code.
The agency commission is collected from the insured’s down payment.
Agent should call AFCO Direct at 877-317-6437. AFCO will adjust and forward a revised executable agreement.
Contact AFCO at 877-317-6437. In many situations, AFCO will add the additional premium to the insured’s outstanding loan without any additional documentation or down payment required.
CRC will forward the return premium to AFCO. AFCO will apply the return premium to the outstanding loan. The remaining loan payments will be adjusted accordingly. The insured will receive an advisory notification from AFCO.
No, commercial policies only.
No, your agency is pre-approved to finance CRC policies. If you want AFCO to finance non-CRC policies, please contact AFCO.
Our insurance premium finance process is simple, easy and fast.
Agent receives from CRC an executable AFCO premium finance agreement with the CRC insurance quotation
Retail agent collects down payment and executed agreement from insured
Retail agent signs premium finance agreement in producer section of agreement
Retail agent forwards executed agreement to PFA@afco.com
AFCO books loan