Credit insurance will make sure that your business is protected in case of a client’s inability to pay any trade credit debts that they may have with you.
Because of our well-established relationships with insurers and our knowledge of their products, we are able to source the best value cover for you. We guarantee service delivery through our expertise in the credit insurance market throughout a broad range of industries.
The cost of a bad debt needs to be counted as much more than simply the loss of money you were due to receive. The truth is you can never make up for the cost of a bad debt. The impact is immediate; it can put stress on cash flow and ultimately damages your profitability.
In serious cases, bad debt can even lead to a business’s financial ruin; don’t let this become you!
What exactly is trade credit insurance?
This type of insurance policy essentially repays a credit amount (either partially or in full) to a business when a customer cannot pay their invoice. In short, it’s assurance against bad debt.
Who needs this type of insurance?
Think of what the consequences would be if one of your largest customers failed to pay you. For most businesses, this would result in severe financial hardship as losses would be substantial. If you believe that your business would struggle in this situation, then insurance is certainly something you should be considering.
Credit insurance should not be limited to medium or large businesses, in fact even small businesses can benefit from this type of insurance policy. As a national credit insurance broker, Niche Trade Credit has access to many of Australia’s leading insurers – ensuring we find a company that meets your requirements. Credit insurance can also be tailored to meet the specific needs of your business and can cover risks such as work in progress and binding contracts. We take the time to get to know your business, as this allows us to determine the types of risks that apply to your industry and personal situation.
The national credit insurance broker you can trust
When it comes to risk insurance, it’s important that you take out a policy that meets your needs and budget. Naturally, the market place is crowded with a wide variety of insurance companies – and as a business it can be daunting when it comes to sifting through their policies. Niche Trade Credit can take the stress and hassle out of your hands. We guarantee that we will deliver the best price for you with our market expertise.
As industry experts, we know that bad debt can have a range of effects on a business that exceeds simply the loss of that money. Stress can be placed on cash flow and long-term profitability may be affected.
If you want to protect your business from bad debt, we have the solution. For more information regarding our range of services, don’t hesitate to talk to us so that we can help insure your business. In addition, you can access expert advice via our Client Advice Centre (first month is free) – our new service that delivers fast, up to date information regarding all aspects of credit insurance in Australia.
To get in touch, give our friendly team a call today on (02) 9416 0670.
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