Last Updated 11/5/2025
If the insured chooses not to finance the premium through our Direct Bill Program, the agent cannot use their own premium finance company. However, the insured does have the option to Pay in Full:
- The PIF option under the Direct Bill Program is designed for agencies and insureds to remit full payment directly to Cover Whale without third-party financing.
- The use of any external premium financing in connection with a PIF policy violates our program guidelines and introduces compliance, financial, and reputational risk to both the agency and Cover Whale.
- Under the Agency Bill Program, agencies that elect to bill and collect directly may use third-party PFCs at their discretion — provided Cover Whale is paid in full and on time. However, this flexibility does not extend to direct-billed transactions.
If choosing the Pay in Full option, you can select this option directly in the portal. Once you select Request to Bind simply select Pay in Full under the Payment Options.
For Pay in Full options, the payment link is issued to the policyholder directly. Payment is required to be remitted via the issued link for the binding process to be completed. If the issued link is not working please send an email to billing@coverwhale.com.