OX LION CAPITAL LLC

Can I premium finance directly with Ox Lion Capital?

At this time we only work through appointed insurance agents and brokers who secure premium insurance terms for their clients. 

How does flood insurance premium financing work?

Ox Lion Capital offers a consumer loan to be used exclusively for the purposes of financing flood insurance premiums.  Once the agreement is signed and the downpayment is received, the loan is activated and full premium payment goes directly to the insurance provider. Agreed upon installment payments are made to Ox Lion Capital which reduce the balance of the loan.

Why do I need flood insurance financing?

Flood insurance financing enables homeowners and businesses to break their premium into manageable monthly payments instead of paying the full amount upfront. This approach offers flexible payment plans, making it more convenient to budget for this vital coverage.

If I have a mortgage, can I still secure flood insurance premiums. 

Check with your lender.  Some lenders prefer to escrow for insurance premiums and pay the insurer upfront.  Other lenders allow their consumer to pay insurance directly, in which case premium financing is an option.

What happens if I want to cancel my flood insurance policy?

Flood insurance policies are generally non-cancelable, with a few exceptions (detailed below). This means that if you secure financing to purchase a flood insurance policy, you are obligated to make all agreed-upon installment payments or pay off the loan balance in full. Failure to meet these payment terms may result in collections or legal action to recover the unpaid balance.

Exceptions:

1.Sale of the Insured Property: If the insured home is sold and the carrier issues a refund for the unearned premium, the refunded amount will be returned to the insured, who can use it to reduce or settle the loan balance.

2.Policy Cancelation by Carrier: Some flood insurance carriers allow policy cancelations with the return of unearned premiums. Check with your insurance agent to determine if your flood insurance policy qualifies for cancelation and a refund of unearned premiums.

Are there fees or interest charges for financing flood insurance?

Yes financing flood insurance will include interest charges and small administrative fees. The exact amount depends on the terms of the financing plan you choose. Our rates are competitive and transparent, and our agreement includes the key information needed to make informed financial decisions.