Magna Finance Services

What is Premium Financing?

Premium Financing is the lending of funds to cover the cost of an insurance premium. Magna Finance Company offers financing for a wide range of policy types including personal auto, homeowners, dwelling-fire, commercial auto, general liability, and various other commercial policies. We have been serving agents for over 30 years and we can help you with all your financing needs.

How Does it Work?

Financing policies with Magna Finance Company is extremely easy and requires very minimal amount of paperwork. Most policies will only require a signed financed agreement along with the insured's down payment to be mailed to our office and we do the rest. The insured will receive a payment coupon booklet from Magna Finance Company and your office will receive an acknowledgment. A copy of any late notice or cancellation notice will also be sent to the agent. After a policy has been setup to be financed, you can view the status of the account online as well as view reports of all late or pending cancellation accounts.

Call us today to get your welcome packet which includes a copy of MagnaCalc, our premium financing quoting software. If you need a finance quote today, call us and we can get you started within minutes.

To learn more about how Magna Finance Company can help your agency, call Gregory at (508) 756-3067 or use our web contact form.

Benefits of Premium Financing

  • Auto rewrites financed
  • Improved cash flow
  • Single billing source for MAIP policies
  • Increased agency income

For more information on how Magna Finance Company can serve your agency needs,
please give us a call at (508) 756-3067