Newsletter Articles

Cash flow solutions – spreading your insurance premium cost across the year

Here’s a simple, yet very effective, tip for small business owners to help maintain a better cash flow. Most businesses have a range of insurance requirements; from Workcover, to professional indemnity, public liability, plant and equipment, business overheads, and even your vehicle registration and CTP fees. Rather than write a cheque out and deplete your cash flow, 6-Point Finance can help you to make your dollar ($) work harder by spreading the cost of insurances over the course of the year.

Insurance Premium Funding is a fantastic finance product which enables you to stagger the cost of your insurances over a 12 month period.

Benefits of funding your Insurance Premium include:

1. Flexible repayment terms on a monthly basis for up to 12 months. Spreading payments in this way will assist your cash flow;

2. A direct debit will be set up via your nominated bank account for the monthly repayments at no cost;

3. Your insurance premium will be paid directly by the lender by the due date;

4. You simply nominate a term of between 6 and 12 months and then pay the premium off. Some businesses may be doing this already using their bank overdraft facility but this is a better solution;

5. Available for all premiums over $5,000 (we can consider smaller amounts);

6. Generally speaking, the funding is completely ‘unsecured’ and assessed without any provision of financial statements.

It’s as simple as supplying us with a copy of your (full) insurance premium renewal notices. Why not have someone collate all your insurance renewal notices now and put on the fax to our office on (07) 3252 2935:

• Workcover / workers compensation insurance
• Business plant and equipment / comprehensive insurance
• Motor vehicle / comprehensive insurance
• Vehicle registration and CTP insurances
• Bus and truck insurance
• Professional indemnity insurance
• Public liability insurance
• Business overheads insurance