Company
HIG Premium Finance LLC ("HIG") provides financing for commercial insurance premiums and, in select states, personal lines insurance premiums, to insureds placed through licensed insurance agencies and brokers. HIG's principal office is at 1359 Broadway, Suite 1102, New York, NY 10018. Contact: info@higpf.com.
Licensing and availability
Premium finance is a regulated activity. HIG conducts business only in jurisdictions where it is licensed, registered, or otherwise authorized to do so, and availability of financing for any account depends on applicable state law. Contact us to confirm availability for a specific state or account.
Nature of the financing
HIG's core program finances commercial insurance premiums. Under a premium finance agreement, the insured makes a down payment, HIG advances the balance of the premium on the insured's behalf, and the insured repays HIG in installments together with a finance charge. As permitted by state law, the unearned premium under the financed policy is assigned to HIG as security.
Personal lines financing
Financing of premiums for personal, family, or household insurance ("personal lines") is available only in select states where it is authorized, and only through agencies and brokers appointed with HIG. Availability is confirmed state by state and may change. Personal lines financing is made under a separate premium finance agreement that contains the consumer disclosures required by applicable federal and state law, including, where applicable, the Annual Percentage Rate, finance charge, amount financed, total of payments, and payment schedule. Rates, fees, late charges, cancellation procedures, and notice periods for personal lines accounts are governed by that agreement and by the consumer protection and premium finance laws of the insured's state, which may differ from those that apply to commercial accounts. The rate tiers, examples, and estimator shown on higpf.com describe HIG's commercial program and are not an offer of credit or a disclosure of terms to any consumer.
Rates, terms, and illustrative figures
Any rate ranges, tiers, examples, or estimator results shown on higpf.com are illustrative only and are not a quote, a rate lock, a commitment to finance, or an Annual Percentage Rate disclosure. Actual rates, down payment, fees, and installment terms are determined per agency agreement, are subject to underwriting, may vary by state, and are set forth in the written premium finance agreement, which contains all disclosures required by applicable law. That agreement controls in the event of any inconsistency with this website.
Cancellation and minimum-earned premium
If an installment is not paid when due, the premium finance agreement and applicable state law permit HIG, after any required notice, to cancel the financed policy and apply any returned unearned premium to the balance owed. Some policies carry a minimum-earned premium that is not refundable on cancellation; the insured remains responsible for any financed amount not covered by returned premium. Notice periods, charges, and procedures are governed by the premium finance agreement and applicable state law.
Agencies, brokers, and third parties
Agencies and brokers appointed with HIG act on behalf of their insureds and are responsible for their own licensing and disclosure obligations. Appointment does not create a partnership, joint venture, or employment relationship. Third-party product and service names referenced on this site are the property of their respective owners, and their mention does not imply endorsement or partnership except as expressly stated.
No advice
Nothing on higpf.com constitutes legal, tax, accounting, insurance, or investment advice. Agencies and insureds should consult their own advisors regarding the suitability of premium financing for a particular account.
Questions
Questions about HIG's services or these disclosures may be sent to info@higpf.com or mailed to HIG Premium Finance LLC, 1359 Broadway, Suite 1102, New York, NY 10018.