If you sell trade or sell goods on a credit basis, you're at risk of a bad debt or non-payment by customers. This can disrupt your cashflow and leave you out of pocket.
Trade Credit Insurance is important for protecting your income and business assets against potential customer failure. With the right cover, you can grow your business confidently, knowing your protected if things go wrong.
All registered businesses that sell goods and services on credit terms, such as 30 days to pay, should consider credit insurance. This includes businesses that trade domestically and internationally.
Some trade credit insurance policies also off the bonus of working with designated collection agencies to help you recover your debts - taking the pressure of this difficult and time-consuming process.
The coverage can vary between each policy. The policy benefits available include:
Exclusions, the excess you need to pay and limits of liability can vary greatly depending on your insurer. Policies generally won't include cover for:
If you would like to get a quote for Trade Credit Insurance policy talk to one of our Crucial Insurance experts today.