Once an Agent has Requested to Bind, both the retail agent and the insured will receive DocuSign policy document to complete.
After completing the DocuSign, the insured will need to make a down payment to the assigned premium finance company. Cover Whale WILL NOT bind a policy prior to a down payment being collected.
The insured will receive the down payment link with their DocuSign policy documents and will need to follow that link to make their down payment. You can view the policyholder's experience in this short video.
If a policyholder wants to make a larger down payment than the terms set in the Premium Finance Agreement, they may do so by contacting the finance company directly.
Once the down payment has been collected and the policy has been bound by Cover Whale, all bound policy documents will be uploaded into the Cover Badger platform and filings will be completed.