Premium payments are due in 14 days for new policies and on the renewal date for policy renewals.
Premiums maybe paid to us by the following options:
- Mastercard, Visa or Amex only surcharge applies
- Cheque or cash
Or use your credit card securely on our Online Payment Gateway here on this website. When paying online on the South Coast Insurance Brokers’ website, card details are transmitted through a secure server using Pay Way.
Card data is not held or retained by South Coast Insurance Brokers.
Some of the insurers we deal with offer payment by instalments by direct debit from your bank or credit card at no additional charge. These options will be shown on the invoice or ask us about them.
Insurance premium funding allows you to manage your business cash flow by allowing your insurance premiums to be paid in regular instalments.
The benefits of premium funding include:
- Monthly instalments paid by direct debit from your nominated bank account or credit card.
- Premium funding interest charges are generally tax deductible.
- Fixed interest rates and no ongoing loan service fees.
- Working capital remains in your business until instalments are due.
- Premium funding is an additional source of credit to your overdraft or other business loans facilities.
If a cover is cancelled before expiry of the period of insurance, we reserve the right to refund to you only the net return premium we received from the insurer, and not refund any part of the brokerage or fees we receive for arranging the cover. A broker service fee may be charged to process the cancellation. The insurer may retain a Minimum Premium and this will be detailed in the policy document or policy schedule. All refunds received from insurers will be refunded within seven (7) working days.
Note: All transactions are processed in Australia Dollars.