Who is Close Brothers and why do they pay Prima a commission?

We’ve partnered with Close Brothers Limited. They provide finance for your Prima car insurance premium. This allows you to spread the cost of your insurance across fixed, monthly payments. 

This means that Prima is a credit broker, not a lender. Close Brothers pay us a commission when we arrange premium finance on your behalf. This commission helps us cover the costs on our side, for things like setting up and helping to manage your premium finance. 

How premium finance works

Essentially, Close Brothers pay the cost of your premium upfront. You then pay them back in monthly instalments with interest. 

This interest rate is set by us. The commission Close Brothers pay us is a percentage of this interest. This percentage amount is the same for all customers and fixed at any given time. 

Just so you know, Close Brothers is the only premium finance provider that we work with. So we can’t offer an independent recommendation on financing options. We also can’t offer any financial advice.

Our commission is included in your monthly payments

Rest assured that our commission is already included in your monthly payments. So while it does impact what you pay, you won’t be hit with any surprise extra bills. 

If you’d like to check exactly how much commission is included in your payments, contact us. 

You may be asked for your consent 

When you take out a Prima policy on premium finance for the first time, Close Brothers will email you asking for your consent to pass on this commission. 

This is just to make sure that:

• You understand the relationship between Prima and Close Brothers
• You agree to them paying us a commission

In this email, they’ll let you know exactly how much commission they’ll pay us. 

From the date you get the email, you’ll have 12 days to give your consent. Otherwise, Close Brothers can’t provide your premium finance. And that would mean that we sadly couldn’t continue with your cover.

To give your consent, you can either:

• Follow the steps in the email from Close Brothers
• Call 0333 321 6095 between 8.30am and 6pm, Monday to Friday

If you need more help, you can also contact us.