Save yourself some stress. Now, instead of having to find one big lump sum every year, your premium could be spread over twelve (12) affordable monthly installments.
All you have to do is pay the equivalent of three (3) monthly installments as collateral for the loan. If you service your loan well and there are no outstanding balances upon expiration, that one-off collateral payment made can be carried forward as collateral for the following year when you renew your policy. To top it all off, North West doesn’t charge an Application Fee.
Many people use our service for their Private and Commercial Comprehensive Motor policies, but we also finance:
A decision on your application may be instant or can take up to a maximum of one (1) working day. Your first installment is due thirty (30) days from your insurance policy start date.
You can also get pre-approved for your loan. Simply complete the application form which is available at all Beacon branches and return the requested documents via email/fax/in-person to your Beacon rep and conditional approval will be granted. Original documents can be submitted when you come into Beacon to make your payment.
You will be required to pay your installment on time each month. We suggest that you either make your first installment with your downpayment so that subsequent payments are due at the end of the month, or else make your first installment when you get paid before the installment due date.
Your loan payments must be up to date for a claim to be settled and paid.
Our Head Office is at 11 Stanmore Avenue, Port of Spain.