Florida Statutes
Fla. Stat. § 627.827 (2025)
“Premium finance agreement” defined.
✓ 2025 Florida Statutes — current through the 2025 Regular Session
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627.827 “Premium finance agreement” defined.—“Premium finance agreement” means a promissory note or other written agreement by which an insured promises or agrees to pay to, or to the order of, a premium finance company the amount advanced or to be advanced under the agreement to an insurer or to an insurance agent, in payment of premiums on an insurance contract, together with a service charge as authorized and limited by law.
History.—s. 1, ch. 63-16; s. 3, ch. 76-168; s. 1, ch. 77-457; ss. 2, 3, ch. 81-318; ss. 612, 809(2nd), ch. 82-243; s. 79, ch. 82-386; s. 114, ch. 92-318.
Notes of Decisions
Cited in 3
cases, 1997–2011 · leading case: Sosa v. Safeway Premium Fin. Co., 73 So. 3d 91 (Fla. 2011).
Sosa v. Safeway Premium Fin. Co., 73 So. 3d 91 (Fla. 2011). “See § 627.827, Fla. Stat. (2010). [1] In return, the insured repays, with service charges and a possible "additional service charge," the premium finance company in monthly installments.”
Capital Nat. Fin. v. Dept. of Ins., 690 So. 2d 1335 (Fla. 3d DCA 1997). “Section 627.827 defines "premium finance agreement" as "a promissory note or other written agreement by which an insured promises .”
Smith v. Foremost Ins. Co., 884 So. 2d 341 (Fla. 2d DCA 2004). “The trial court here also cited Capital National for its holding that the term "financing" in section 627.827 of part XV of the code "as it is used in that context is the advancement of money rather than the mere collection of funds.”
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