Premium Financing
H & M Premium Financing
H &M Financing is here to help with all your premium financing needs. Financing can be obtained on just about any policy (Auto, Commercial, Motorcycle, etc.). Premium financing available in 3, 6, 8 and 9 month pay plans.
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Rates for Insurance Premium Financing
3-6-8-9 Pay Plans
3 Monthly Payments
Amount to be Financed Finance Charge
$101-120...............................................$22.88
121-140....................................................................... 23.38
141-160....................................................................... 23.88
161-180....................................................................... 24.38
181-200....................................................................... 24.88
201-220....................................................25.38
221-240....................................................................... 25.88
241-260....................................................................... 26.38
261-280....................................................................... 26.88
281-300....................................................................... 27.38
301-320....................................................27.88
321-340....................................................................... 28.38
341-360....................................................................... 28.88
361-380....................................................................... 29.38
381-400....................................................................... 29.88
401-420.................................................... 30.38
421-440....................................................................... 30.88
441-460....................................................................... 31.38
461-480....................................................................... 31.88
481-500....................................................................... 32.38
501-520....................................................42.88
521-540....................................................................... 43.38
541-560....................................................................... 43.88
561-580....................................................................... 44.38
581-600....................................................................... 44.88
601-620....................................................45.38
621-640....................................................................... 45.88
641-660....................................................................... 46.38
661-680....................................................................... 46.88
681-700....................................................................... 47.38
701-720....................................................47.88
721-740....................................................................... 48.38
741-760....................................................................... 48.88
761-780....................................................................... 49.38
781-800....................................................................... 49.88
801-820...................................................50.38
821-840....................................................................... 50.88
841-860....................................................................... 51.38
861-880....................................................................... 51.88
881-900....................................................................... 52.38
901-920....................................................52.88
921-940........................................................................ 53.38
941-960....................................................................... 53.88
961-980....................................................................... 54.38
981-1000..................................................................... 54.88
1001 and over....................................... 2 1/2%+$40
3 Pay= 2.5% of financed amount plus service charge.
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6 Monthly Payments
Amount to be Financed Finance Charge
$101-120................................................ $25.75
121-140....................................................................... 26.75
141-160....................................................................... 27.75
161-180....................................................................... 28.75
181-200....................................................................... 29.75
201-220.................................................. 30.75
221-240....................................................................... 31.75
241-260....................................................................... 32.75
261-280....................................................................... 33.75
281-300....................................................................... 34.75
301-320...................................................35.75
321-340....................................................................... 36.75
341-360....................................................................... 37.75
361-380....................................................................... 38.75
381-400....................................................................... 39.75
401-420.................................................... 40.75
421-440....................................................................... 41.75
441-460....................................................................... 42.75
461-480....................................................................... 43.75
481-500....................................................................... 44.75
501-520....................................................55.75
521-540....................................................................... 56.75
541-560....................................................................... 57.75
561-580....................................................................... 58.75
581-600....................................................................... 59.75
601-620....................................................60.75
621-640....................................................................... 61.75
641-660....................................................................... 62.75
661-680....................................................................... 63.75
681-700....................................................................... 64.75
701-720...................................................65.75
721-740....................................................................... 66.75
741-760....................................................................... 67.75
761-780....................................................................... 68.75
781-800....................................................................... 69.75
801-820................................................... 70.75
821-840....................................................................... 71.75
841-860....................................................................... 72.75
861-880....................................................................... 73.75
881-900....................................................................... 74.75
901-920....................................................75.75
921-940....................................................................... 76.75
941-960....................................................................... 77.75
961-980....................................................................... 78.75
981-1000..................................................................... 79.75
1001 and over......................................5%+$40
6 Pay= 5% of financed amount plus service charge.
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8 Monthly Payments
Amount to be Financed Finance Charge
$101-120.................................................. $27.67
121-140....................................................................... 29.00
141-160....................................................................... 30.33
161-180....................................................................... 31.67
181-200....................................................................... 33.00
201-220....................................................34.33
221-240....................................................................... 35.67
241-260....................................................................... 37.00
261-280....................................................................... 38.33
281-300....................................................................... 39.67
301-320..................................................... 41.00
321-340....................................................................... 42.33
341-360....................................................................... 43.67
361-380....................................................................... 45.00
381-400....................................................................... 46.33
401-420...................................................47.67
421-440....................................................................... 49.00
441-460....................................................................... 50.33
461-480....................................................................... 51.67
481-500....................................................................... 53.00
501-520................................................... 64.33
521-540....................................................................... 65.67
541-560....................................................................... 67.00
561-580....................................................................... 68.33
581-600....................................................................... 69.67
601-620................................................... 71.00
621-640....................................................................... 72.33
641-660....................................................................... 73.67
661-680....................................................................... 75.00
681-700....................................................................... 76.33
701-720.................................................... 77.67
721-740....................................................................... 79.00
741-760....................................................................... 80.33
761-780....................................................................... 81.67
781-800....................................................................... 83.00
801-820................................................... 84.33
821-840....................................................................... 85.67
841-860....................................................................... 87.00
861-880....................................................................... 88.33
881-900....................................................................... 89.67
901-920...................................................91.00
921-940....................................................................... 92.33
941-960....................................................................... 93.67
961-980....................................................................... 95.00
981-1000..................................................................... 96.33
1001 and over............................... 6.667%+$40
8 Pay= 6.667% of financed amount plus service charge.
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9 Monthly Payments
Amount to be Financed Finance Charge
$75.01-100.00 $25.00
100.01-125.00.............................................................. 27.00
125.01-150.00.............................................................. 29.00
150.01-175.00............................................................... 31.00
175.01-200.00............................................................. 33.00
200.01-225.00.........................................35.00
225.01-250.00........................................................... 36.00
250.01-275.00............................................................ 38.00
275.01-300.00............................................................ 40.00
300.01-325.00.........................................42.00
325.01-350.00............................................................ 44.00
350.01-375.00............................................................ 46.00
375.01-400.00............................................................ 48.00
400.01-425.00.........................................49.00
425.01-450.00............................................................. 51.00
450.01-475.00............................................................. 53.00
475.01-500.00............................................................. 55.00
500.01-525.00......................................... 67.00
525.01-550.00............................................................. 69.00
550.01-575.00.............................................................. 71.00
575.01-600.00............................................................. 73.00
600.01-625.00......................................... 75.00
625.01-650.00............................................................. 76.00
650.01-675.00............................................................. 78.00
675.01-700.00............................................................. 80.00
700.01-725.00......................................... 82.00
725.01-750.00............................................................. 84.00
750.01-800.00............................................................ 86.00
800.01-850.00......................................... 90.00
850.01-900.00............................................................ 93.00
900.00-950.00............................................................ 97.00
950.01-1000.00.......................................................... 101.00
1000.01-1050.00..................................... 114.00
1050.01-1100.00........................................................ 118.00
1100.01-1150.00........................................................ 122.00
1150.01-1200.00....................................................... 126.00
1200.01-1250.00..................................... 130.00
1250.01-1300.00....................................................... 133.00
1300.01-1350.00....................................................... 137.00
1350.01-1400.00........................................................ 141.00
1400.01-1450.00.................................... 145.00
145.01-1500.00.......................................................... 148.00
1500.01-1550.00........................................................ 152.00
1550.01-1600.00........................................................ 156.00
1600.01-1650.00.................................... 159.00
1650.01-1700.00...................................................... 163.00
1700.01-1750.00....................................................... 167.00
1750.01-1800.00........................................................ 171.00
1800.01-1850.00.................................... 175.00
1850.01-1900.00....................................................... 178.00
1900.01 and over.............................. 7.5%+$40
9 Pay= 7.5% of financed amount plus service charge.
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NOTES:
1) The above rates are effective for all new financing and re-financing of existing cases.
2)DOWN PAYMENT
A) Minimum 20% down on annual financing (annual commercial policies 25% down).
B) Minimum 40% down on six month Policies.
3) Rates reflect the following factors:
3 Pay= 2.5% of financed amount plus service charge
6 Pay= 5% of financed amount plus service charge
8 Pay= 6.667% of financed amount plus service charge
9 Pay= 7.5% of financed amount plus service charge
Service Charges are:
Financed amounts under $500=$20
$500 to under $1000=$30
$1000 and over=$40
4) EXAMPLE:
Premium: $2,000
Down Payment (20%) -400
Balance (amount financed) $1,600
For eight payments take interest of 6.667%
$1,600 x .06667= $106.67*
plus service charge 40.00
plus amount financed 1,600.00
total contract amount $1,746.67
divided by number of payments (8)
equal monthly payment amount: $218.33
*Interest
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