Marine Insurance Finance

Close Premium Finance Marine Insurance - Rates and Review (2026)

Close Premium Finance marine insurance finance rates and review. One of the lowest APR marine insurance premium finance products available - from 9.2% APR.

From APR 9.2%

Max APR 14.5%

Max of Premium 90%

Min Premium £500

About Close Premium Finance

Close Premium Finance is the insurance finance division of Close Brothers Group, one of the UK's leading specialist merchant banks. Their marine insurance premium finance product is among the most competitively priced available, with a low APR floor of 9.2% for qualifying applicants.

Rates and Terms - October 2026

Feature	Detail
APR Range	9.2% – 14.5%
Maximum % of premium financed	90%
Minimum annual premium	£500
Maximum term	Up to 12 months
Repayment structure	10 or 12 equal monthly direct debits
Application method	Online / through broker

Rates as at October 2026. Subject to credit assessment and eligibility. Your actual rate may differ.

Pros and Cons

Advantages

Lowest headline APR on our panel (9.2%)
Backed by Close Brothers Group - financially robust and broker-trusted
Up to 90% of premium financed
Flexible repayment schedules - 10 or 12 monthly instalments

Considerations

Minimum premium £500
Not all marine insurers are set up with Close Premium Finance
Higher-risk applicants may not qualify for the lowest rates

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Whole of market · 130+ lenders · FCA 814533 · Same working day response

FAQs

Frequently asked questions

Who is Close Premium Finance?

Close Premium Finance is the premium finance division of Close Brothers Group plc, an FTSE-listed specialist merchant banking group. They are one of the most financially robust premium finance providers in the UK market.

Does Close Premium Finance offer the lowest marine insurance premium finance rates?

Close Premium Finance offers the lowest headline APR on our panel at 9.2%, making them a strong starting point for borrowers with good credit and premiums above £500.

How does Close Premium Finance pay my insurer?

Close Premium Finance pays the full annual premium directly to your insurance broker or insurer within 24–48 hours of approval. You then repay Close in 10 or 12 equal monthly instalments.

Can I use Close Premium Finance for a Lloyd's of London marine policy?

In most cases yes. Close Premium Finance works with Lloyd's syndicates and Lloyd's brokers. Ask your broker whether they are set up with Close Premium Finance.

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Premium finance taken for business purposes is not regulated by the FCA. Rates shown are indicative as at October 2026 and subject to the provider's credit assessment. We act as a credit broker, not a lender. If you do not keep up repayments your insurance policy may be cancelled.