Fleets can either pay for their connected fleet insurance upfront, through third-party credit facilities or by monthly instalments from Flock.
Flock Monthly Instalments
Our 0% interest finance option allows fleets to split their payments into monthly instalments. This service is powered by GoCardless, an FCA-regulated payment processor.
Fleets who choose to pay in monthly instalments will be required to pay an upfront deposit which is typically 25% of the total Gross Written Premium of the policy.
Flock's team will help with the set-up of monthly instalments and fleets have the ability to choose what day of the month they will be charged.
GoCardless payments are charged to a client's card and can take up to 6 days to be deducted from the account.
Paying the full premium at the start of your policy period via Bank Transfer. Flock offers 90-day credit terms on upfront payments.
Third-Party Credit Facilities
Pay via a third-party credit facility such as Premium Credit or Close Brothers Premium Finance. Your broker should be able to help with this payment option.
Collecting deposits directly from brokers
Flock will also accept deposit payments directly from the broker. In this case, we will need prior agreement and written confirmation of who’s paying the upfront deposit. Flock will then provide bank details to allow the broker to pay via BACs.