An evolution in premium financing for renewals.
Cover Whale, in collaboration with FIRST Insurance Funding (FIRST), proudly presents the Advantage 10/10 program for premium financing on insurance renewals.
Designed to acknowledge our safest policyholders, Advantage 10/10 introduces some of the most competitive terms in the industry — a 10% down payment, followed by 10 equal monthly installment payments ("10 down/10 pay"). What's more, the program offers loans up to $250,000, subject to FIRST's underwriting approval.
Eligibility criteria for Advantage 10/10 are:
- Enrollment among Cover Whale's safest drivers
- Outstanding financial record with no outstanding balance with Cover Whale or the premium finance company
- No policy cancellation or reinstatement during the current term
- For policies over $250,000 are subject to FIRST's underwriting approval
- Regardless of whether the current policy is financed through FIRST, policyholders may still qualify.
- Qualification decisions are final and non-negotiable.
The Advantage 10/10 application process is designed for ease and efficiency:
- For qualifying policyholders, the favorable terms are automatically applied to new renewal quotes. Agents can simply log into the Cover Whale platform, review the details, and bind the policy.
- Qualifying existing renewal quotes will auto toggle to “request” status — just click 'request a quote.’
Combined with our existing program offering up to a 30% safety-based discount on renewal premiums, the Advantage 10/10 program provides substantial benefits and convenience for your clients.
FIRST Insurance Funding has the right to reject any PFA and to deny financing to any insured.
FIRST Insurance Funding is a division of Lake Forest Bank & Trust Company, N.A., a Wintrust Community Bank.