How quickly can I get a quote?
You can send a Zip Quote on-line and receive a quote within 24 hours or less. On average turnaround time is usually within just a few hours, Monday to Friday, 8:30 a.m. to 4:30 p.m. We respond in the form of a detailed contract that’s ready for review by you and the insured.

What kind of insurance policies can be financed?
We finance most types of insurance policies as long as they are 6 -12 months in duration. Click here for a complete list.

How does premium financing compare with bank financing?
Arranging financing through Pencross is easy. There are no complicated, time-consuming credit applications, and no collateral is required other than the down payment which is payable to Pencross in secured funds.

Isn't premium financing only for facility and hard-to-market clients?
No. While we adopt a flexible approach to financing of hard-to-market clients, we finance all kind of premiums including hotel, real estate developers, neighborhood stores, trucking fleets, bridge constructions, farm assets and regular personal lines.

How are your rates calculated?
Pencross applies an administration fee according to the policy value (cost premium plus applicable tax). Our fees are 100% earned and are collected over the course of the policy.

How is the loan repaid?
A down payment (deposit) is payable to Pencross in secured funds and the balance is paid in equal installments over a 6 or 9 month period, depending on the total amount financed. Click here to see how the deposit is calculated.

How quickly will I be paid?
You will receive payment within 30 days of the start date of the contract. A quote becomes a contract on the day we receive all the required documents (i.e. signed contract, down payment and payment option).

Do you accept post-dated cheques?
Yes, you can provide us with post-dated cheques OR pay by pre-authorized payments. Whichever works best for the insured!

Can the loan be paid off prior to the end of the term?
Absolutely! There are no penalties for prepayments.

Do you finance 6 month policies?
Yes, we finance 6 month policies (certain restrictions apply).