Accounts receivable insurance is a great coverage to have if you are running a business. It protects against customers who don’t pay their dues and is becoming a common way to secure accounts receivable for many companies. With accounts receivable insurance, you can limit risks out of your control and protect your company from going bankrupt. It not only protects your company but can also help it to grow and to become much more secure. There are a few different types of insurance, such as single buyer, key accounts, whole turnover, and transactional.
Key Accounts Receivable Insurance primarily protects you from non-payment customers that would devastate your business. Transactional offers coverage against transaction non-payments and is a good fit for companies that have one customer or that get a few sales yearly. If you have a main customer, you can get this coverage as a default for that specific customer. Finally, whole turnover coverage protects your business against non-payment of commercial debt, which can apply to international or domestic sales.
Whatever type of insurance you get, it is a good way to protect what you have worked so hard to obtain and keep your reputation in good standing. It also gives you a competitive edge in a large market and can get you better financing. You can also expand your sales significantly and have more freedom with your money. To learn more about how you can protect and grow your business, be sure to contact Trade Risk Group or visit their website at traderiskgroup.com today!
