Support / Frequently Asked Questions

Please select the area for which you require more information:

	Disability Benefits Claim Information
	Workers' Compensation Claims
	Workers' Compensation Coverage
	Term Life Insurance
	Property/Casualty Insurance
	Insurance Premium Financing
		In what states does Forest Financial do business?
		How does insurance premium financing work?
		What kind of down payment is required?
		What types of policies can be financed?
		What is the interest rate for premium financing?
		If I pay my account off early, will I get an interest credit?
		What happens if my payment is late?
	Equipment Financing

Q: In what states does Forest Financial do business?

A: Forest Financial Incorporated finances insurance premiums in New York State only and provides equipment financing in all states in the U.S.

Q: How does insurance premium financing work?

A: The insured must contact his or her insurance agent for financing. The agent will contact Forest Financial for a quote/finance contract. A down payment is collected when the insured signs the finance agreement. The agent then forwards the agreement to Forest Financial for processing. Forest Financial pays the amount financed to the agent or Insurance Company and sends payment coupons to the insured. The insured then makes monthly installment payments to Forest Financial.

Q: What kind of down payment is required?

A: The standard down payment is 25% on Property/Casualty policies that are subject to standard 10-day cancellation.

Q: What types of policies can be financed?

A: Property Casualty policies written by insurance companies rated B or better by A.M. Best.

Q: What is the interest rate for premium financing?

A: The interest rate varies, depending on the total premium. Generally, as premium increases, the interest rate decreases.

Q: If I pay my account off early, will I get an interest credit?

A: Yes. Interest earns by the "Rule of 78's". If an account is paid off early, an interest credit is applied.

Q: What happens if my payment is late?

A: There is a five day grace period on each installment. If the payment has not been received by Forest Financial by the end of the grace period, a Notice of Intent to Cancel is issued to the insured and a late fee is added to the installment amount due. This notice gives an additional fourteen days notice. If payment has not been received at the end of fourteen days, the policy(ies) financed by the contract may be cancelled.

W. J. Cox Associates, Inc.
9600 Main St, Suite Three
Clarence, NY 14031-2093

Phone: (716) 759-9606
Fax (716) 759-9607
info@wjcox.com

Office Hours
8 AM -  4 PM EST