Monthly Payment Finance

Premium finance provided by Premium Credit Limited
We use Premium Credit Limited (PCL) to provide finance exclusively. Your personal information and the bank details you provide to us will be passed to them and they will contact you via email or text and send PDF or word documents. Credit is subject to status and PCL may use a credit reference agency that leaves a record of the search and to carry out credit and anti-money laundering checks. We may receive a commission for introducing customers to them.
Premium Credit Limited (PCL) specialise in providing finance to pay annual insurance premium fees, and like Premierline, they are authorised and regulated by the Financial Conduct Authority. PCL have been established for over 25 years and have more than 2 million customers. Currently they process over 25 million direct debits, making them the number one insurance premium finance company in the UK and Ireland.
PCL will only use your account details to collect the direct debit for your insurance on our behalf. They will not be used for marketing purposes and your details will not be passed on to any third party companies outside of PCL.
You can change your payment date by up to five calendar days. You can do this by contacting PCL directly on 0344 736 0047.
You should contact Premierline in the first instance on 0330 102 6175. We would look to settle your account before notifying PCL to cancel any active credit agreements. Please note that if your direct debit is in the process of being applied for then we may not be able to stop this transaction; however any money due back to you will be refunded promptly. You will also need to contact your bank directly to cancel the direct debit instruction.
Similar to if you were to miss a payment on a credit card or any other bills, PCL apply fees to cover the operational costs of processing and reapplying for a defaulted payment.
You can sign your credit agreement online here. You will need to register or sign in to your account, so please ensure you have your details to hand. Alternatively, if you would prefer to sign a paper copy, we can send this out in the post for you. If you don’t sign the online agreement, PCL will send you a paper copy in the post to sign.
The agreement with PCL does not affect your cooling off period, and in most circumstances following the 14 days you will still be able to cancel the policy. You may be charged cancellation fees if this falls before the end of the insurance contract.
No, any amendments to your policy will be done by Premierline. We will inform PCL if there is any alteration to your premium, to keep things simple and hassle free for you. Please be aware that dependent on the date the adjustment is made, PCL may have already applied for the direct debit payment, so changes to the amount you pay may not be reflected until the following payment.
The name that will appear on your bank statement will be Premium Credit Limited, as they will be collecting the direct debit on our behalf. 

The nature of the agreement with PCL means that once we have gained your verbal agreement to set up the policy on a direct debit basis, PCL can collect instalments on our behalf.

The agreement has been set up this way to protect you and prevent your business insurance policy from being cancelled without instruction, which could ultimately leave you without cover when you need it most.

PCL will require your credit agreement to be signed, but they will collect the instalment so we can continue to provide insurance cover for your business.

Depending on the date that you cancelled your policy in relation to the payment collection date, PCL may have already applied for your direct debit to ensure that you don’t go without cover. If you no longer wish for this policy to continue we can instruct PCL to refund any returned payment due to you. We also recommend that you cancel your direct debit with your bank. 
Making amendments to your policy midterm can sometimes result in an increase or decrease in the monthly payment that is collected. If your direct debit appears not to have changed, it will most likely be due to the timing of the amendment in relation to PCL’s collection procedure. Once your policy adjustment has been made, we then relay this information to Premium Credit Limited instructing them to make the amendments to your payments, which can sometimes take a few days to complete.
If you wish to cancel your policy, you must contact Premierline in the first instance; you should then cancel your payment arrangement with PCL as they are the loan provider for your insurance policy.
If you change your address you will need to notify both Premierline and PCL to make the amendments to your business insurance policy as well as your loan agreement.