What Is Marine Insurance Premium Finance?
Marine insurance premium finance is a short-term credit facility used to spread the cost of an annual marine insurance premium over monthly instalments - typically 10 or 12 months. Rather than paying several thousand pounds upfront, policyholders pay a smaller monthly amount, with a premium finance provider advancing the full premium to the insurer on their behalf.
It is particularly popular with:
- Yacht owners with significant annual premiums (£2,000+)
- Charter operators with multiple vessel policies
- Commercial marine operators financing P&I and hull cover simultaneously
- Superyacht owners managing large annual insurance costs
Premium Finance Providers and Guides
Premium Credit Marine Insurance Finance
Rates 9.5%–14.9% APR, up to 12 months, up to 90% of premium. Read more →
Close Premium Finance Marine Insurance
Rates 9.2%–14.5% APR, up to 12 months, up to 90% of premium. Read more →
AFIG Marine Insurance Premium Finance
Rates 10.2%–16.5% APR, up to 12 months, up to 85% of premium. Read more →
First Marine Insurance Premium Finance
Rates 10.8%–17.2% APR, up to 12 months, up to 85% of premium. Read more →
PayBreak Marine Insurance Finance
Rates 11.5%–18.9% APR, up to 12 months, up to 80% of premium. Read more →
Best Marine Insurance Premium Finance Rates October 2026
Full lender comparison - cheapest marine insurance premium finance this month. Read more →
Marine Insurance Premium Finance: How It Works
Step-by-step guide to spreading the cost of your marine insurance. Read more →
Types of Marine Insurance: Hull, P&I, Charter and Crew
Understanding hull insurance, P&I, charter liability and crew cover. Read more →
Rates at a Glance - October 2026
| Provider | APR Range | Max % of Premium | Min Premium | Term |
|---|---|---|---|---|
| Close Premium Finance | 9.2% – 14.5% | 90% | £500 | Up to 12 months |
| Premium Credit | 9.5% – 14.9% | 90% | £500 | Up to 12 months |
| AFIG | 10.2% – 16.5% | 85% | £250 | Up to 12 months |
| First Marine Insurance | 10.8% – 17.2% | 85% | £250 | Up to 12 months |
| PayBreak | 11.5% – 18.9% | 80% | £200 | Up to 12 months |
Rates indicative as at October 2026. Your actual rate depends on premium size, vessel type, credit profile and provider criteria.