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Trade Credit Insurance - Does your business have accounts receivable? If so, consider reducing your risk exposure from default on the payment of your invoices. Talk with an Insurance Broker about your trade credit insurance requirements.
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Over 59 insurance brokerages for Trade Credit Insurance
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Trade Credit Insurance is insurance that protects your business from financial loss experienced by bad debts. Sometimes Trade Credit Insurance can be called debtor insurance or accounts receivable insurance.
Trade Credit Insurance provides coverage for your accounts receivables and provides cover for unpaid invoices which may arise due to customer bankruptcy, political risks and defaults.
Trade Credit Insurance provides coverage to businesses for risk and exposure faced by businesses accounts receivables.
Trade Credit Insurance may provide coverage for accounts receivable from the following risks:
Client bankruptcy.
Client default on invoices.
Political risks that cause delay or default on receivables.
What does Trade Credit Insurance cost?
The cost of Trade Credit insurance depends on two key factors, your turnover and the level of risk. Risk is assessed based on your business history of trade and loss, credit terms, customer location and ratings, and the type of business you are in. What is key to remember is that the cost of Trade Credit Insurance is often a function of the coverage being provided, so cheaper Trade Credit Insurance may not always offer the same levels of coverage as more expensive alternatives. You want to consider your coverage requirements first, and then seek to find and determine the costs associated.
Why use an Insurance Broker for Trade Credit insurance?
Using an Insurance Broker for your Trade Credit insurance needs ensures that your business has managed its risks. Every business is different and an insurance broker can help by assessing your unique business risk profile and providing advice on the best insurance cover, including Trade Credit insurance for your business. An insurance broker will also help when it comes time to claim, advocating for you to negotiate the best outcome in the settlement of your claim with the insurer.
So whether it's non-payment of a debt owed by a client, contract repudiation or political risk, your Insurance Broker can assist you to be covered.
Do I need Trade Credit Insurance?
Trade Credit Insurance may be required by individuals and businesses in Professional Services, Legal Services, Engineering, Accountants, Marketing Services, Contractor, Architects, Project Managers and Tax Agents.
Types of insurance that you may also consider alongside Trade Credit Insurance include Cyber Insurance, Liability Insurance, Goods in Transit Insurance, Small Business Insurance, Commercial Property Insurance, Professional Indemnity Insurance and Business Interruption Insurance.
Talk to an insurance broker specialising in Trade Credit Insurance to find out if you need Trade Credit Insurance.
How do I find an insurance broker for Trade Credit Insurance?
Advisr has 344 insurance brokers and 59 insurance brokerages specialising in Trade Credit Insurance. To find the right insurance broker who specialises in Trade Credit Insurance, check out this page for specialist Trade Credit Insurance Brokers.
Educate yourself about Trade Credit Insurance by reading articles written by insurance brokers that explain Trade Credit Insurance
Ask friends or colleagues to refer their Trade Credit Insurance broker to you and look them up on Advisr to read their reviews and connect with them.
Industries That May Require Trade Credit Insurance