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What happens if I cancel my Insurance while using Premium Funding
Last Updated: August 17, 2025If you cancel an insurance policy that has been premium-funded, the process is slightly different compared to cancelling a standard policy. Here are the key things to know: Refunds go to the funder – If your insurer issues a pro-rata refund, it will be sent directly to the premium funding provider, not to you. Outstanding balance may remain – Depending on how far into the repayment schedule you are, you may still owe money even after the refund is applied. Non-refundable policies – Some policies are issued on a “100% Minimum & Deposit” or “Non-Refundable” basis. If this applies, the insurer will not return any premium, and you will still need to complete the repayments under the funding agreement. Final figures can vary – The amount payable at cancellation will depend on your insurer’s refund terms, your funding agreement, and how many instalments you have already made. Timing matters – In some cases, it may be more cost-effective to wait until the policy expiry date to avoid extra costs. If you are considering cancelling a funded policy, it is important to speak with us first. We will calculate the final position, explain your options, and help you avoid any unexpected...
What do I need to know about Premium Funding?
Last Updated: August 17, 2025When you use Premium Funding, your insurance policy is still issued with the same insurer and provides the same cover. The difference is that you finance the premium through a short-term loan and make fixed monthly repayments instead of paying the full amount upfront. Here are the key things to know: Separate agreement – You will sign a premium funding contract in addition to your insurance policy. Fixed monthly repayments over 10 months – These provide a predictable cash flow. A 12-month option is sometimes available, but often with an overall higher interest amount payable. Interest and fees – Premium funding adds costs such as an establishment fee, fixed interest, and possible penalties if a payment fails. Certificate of Currency timing – Certificates are normally issued once the first premium payment clears, which can take a couple of days. We can work around this if the first payment is made directly instead of through funding. Cancellations and refunds – If your policy is cancelled mid-term, any refund will be directed to the funding provider first. Multiple policies in one agreement – You can fund several policies together under one contract, which simplifies payments. Credit check – A credit check is...
What is Premium Funding
Last Updated: June 19, 2025Premium Funding allows you to spread the cost of your insurance over regular monthly instalments, rather than paying the full premium upfront. A third-party finance provider pays the insurer in full on your behalf, and you repay them over a set period – typically in 10 monthly instalments. This option is particularly useful for managing cash flow, especially for businesses with multiple policies or larger premiums. There’s no need to rely on a credit card or extend an overdraft, and your cover begins immediately. We can assist you in arranging Premium Funding at the same time as your policy and will walk you through the terms to ensure you understand the details.
Why Doesn’t Webber Insurance Service All Types of Clients
Last Updated: June 24, 2025At Webber Insurance, we have made a conscious decision to focus on areas where we know our advice can make a meaningful difference. We are not a broker that offers every type of insurance to every type of client. Instead, we work with businesses and professionals who require thoughtful guidance and solutions tailored to their specific risks and obligations. Our expertise is centred on industries where insurance needs can be complex and where getting the details right matters. This includes engineering, the built environment, and sectors such as tech, real estate, mining and defence. In these fields, insurance is often about more than just meeting a basic requirement. It is about supporting businesses in managing risk, meeting contract terms, and protecting what they have worked hard to build. By focusing on these clients and industries, we can provide deeper knowledge and better service, as well as insurance solutions designed for real-world needs. We do not aim to offer high-volume, off-the-shelf insurance because we believe our clients deserve more than that. For personal insurance, such as home or landlord cover, we typically provide this as part of our service to existing clients. This helps ensure their business and personal cover are...
Why Should I Use Webber Insurance
Last Updated: June 24, 2025Choosing the right insurance is about more than just obtaining a policy. It’s about having confidence that your cover suits your needs, protects what matters, and is there for you when it counts. At Webber Insurance, we take pride in providing tailored advice and personal service to businesses, professionals, and contractors who want more than a one-size-fits-all solution. We focus on industries where the right advice matters We specialise in supporting: Engineers, designers, consultants and builders in the built environment Businesses in tech, real estate, mining and defence Professionals who need coverage that aligns with contract, licensing or regulatory obligations Our in-depth knowledge of these industries enables us to understand your risks and recommend insurance that suits your needs. Our preferred types of cover We focus on arranging the types of insurance that are essential for protecting businesses and professionals, including: Professional Indemnity Insurance Public Liability Insurance Business Insurance Management Liability Insurance Cyber Insurance Contract Works Insurance We focus on these policy types because they are critical to protecting your advice, services, business operations, and obligations under contracts or law. Tailored solutions, not transactional insurance We don’t aim to offer high-volume, quick-sell policies. Instead, we take the time to understand...