A 5-step guide to invoice insurance

In 5 simple steps we’ll help you get to grips with what invoice insurance is and show you the impact it could have on you and your business.

Invoice insurance helps ensure that you’re paid for the work you do

Invoice insurance protects your business from unexpected credit risks that you don’t have control of, making sure that you are paid regardless of a change in situation for your clients. This could be bad debt from client insolvency or them refusing to pay despite previously agreed contractual terms, which is called protracted default. Invoice insurance therefore covers your business against both insolvency and protracted default from your clients.

Sometimes clients use non-payment tactics where they claim insolvency (legitimately or illegitimately), but with invoice insurance cover, any financial losses won’t fall on your shoulders.

Invoice insurance cover therefore gives you a strong foundation with robust legal protections. Rest assured a credit insurer will ensure that any money you are owed is paid swiftly to you.

Having invoice insurance frees up time to grow your business

As you would be safe in the knowledge that our team of credit specialists are keeping tabs on any payments your business is due, having invoice insurance would enable you to instead turn your attention to business growth. Chasing money owed by insolvent clients or those experiencing protracted default, plus developing client insights about whether a prospective partner is reputable and trustworthy, will be taken care of by our InvoiceInsure team. Instead you’ll be able to focus your resources on meeting new clients, following up for return business with existing ones and also making inroads into new markets.

Invoice insurance allows you to expand your borrowing options

A comprehensive invoice insurance policy enables you to secure better borrowing terms. It’s becoming increasingly common for banks and lenders to require invoice insurance documents to qualify for finance in the first place. Without an invoice insurance policy you may face limited borrowing options which could negatively impact cash flow and restrict growth. Making an investment in invoice insurance really widens your scope for executing dynamic business moves.

You’ll be kept in the loop about the financial health of your clients

A credit insurer will keep you informed about any fluctuations that could impact the creditworthiness of your clients. This would give you the necessary information to effectively plan ahead and make smart and profitable deals. The past year has seen many major firms fall, including Carillion, Maplin and Toys R Us. Making sure to factor in the risk of sudden shocks and covering your business with invoice insurance means that when circumstances unexpectedly change, your business will truly be able to protect itself.

Invoice insurance brings peace of mind

Being at the helm of an ambitious company can be incredibly stressful at times and very rewarding at others. But no matter what stage your business is at, there will always be a long list of tasks that need taking care of. Making one of those tasks disappear from that list forever, and eradicating fears about not getting paid for your work, is our key goal at InvoiceInsure. We understand the challenges and time constraints fast-growing businesses face. We’re on your level.

So there you have it, our quick guide to invoice insurance. We’d be delighted if you get a quote for your business by clicking the link below – it’s a simple process and won’t take long.