Why Credit Insure?

Credit Insurance is important for all businesses trading on credit terms because it protects you when your business does not get paid. If you have provided a product or service I am sure you would agree that you should be paid for it, right? More businesses are finding that getting paid is not guaranteed, that is why it is important to have credit insurance to protect you when, for whatever reason, you do not get paid.

Credit Insurance

If you are a business that receives regular monthly or annual payments, or if you provide products by way of credit there is a good chance you are at risk from somebody not being able to pay you, refusing to pay or going out of business. The one thing that is out of your control is what other people do, but by choosing to have credit insurance, you will at least have control over whether you can recover the money that is owed to you.

There are many reasons that you may not get paid for the services or products you provide, but the one constant is that when you do not get paid, your business loses out. Why should you lose out when you have delivered on your promises?

What can you do about debt?

Although we are reminded that in business it is never a good thing to put all our “eggs in one basket”, it is sometimes unavoidable. After all, if you have a large client that is going to be responsible for a great deal of your income each month, it would be foolish to turn it away just because you are worried about what will happen to your business if they do not pay, after all, we endevour to get more smaller accounts to off set that risk, but again there are no guarantees about doing this before anything goes wrong. After all, you are probably going to be one of the last to be warned if a business is about to fold or is struggling to meet their outgoings.

This is why credit insurance is so important. Taking the worry out of the failings of other businesses having a knock on effect on you, you will have the peace of mind of knowing that should something like this arise, you will not be affected because you have taken out credit insurance to protect against any such debts. And in the current economic climate it makes perfect sense to have insurance against such things happening. After all, if some of the big names in business we expected would be around forever have gone out of business, it could happen to anybody. But the last thing anybody wants is their business to end up in the same situation because you did not get paid by a company that is in such a position.

Without Credit Insurance

The fact is that you are likely to be way down the list of people that will get paid if your clients business fails. There are so many other parties who will want their share first and will have more power to recover what is due to them, such as banks and the Inland Revenue, that a debt that might be a lot of money to your business may not feature as important on the list of their priorities. But you are important, so it is important to have protection with credit insurance to make sure that your business does not suffer as a result of things going wrong with someone elses business. Why should you suffer when you have not done anything wrong?

Sadly the world is not fair, otherwise you would get paid. So for this reason, rather than become a victim of circumstances beyond your control, you can now do something to protect your business against debts by using our credit insurance brokers to find you the best credit insurance policy to suit your business needs. You can protect against individual clients, which is helpful if you have a big client that is paying you a large percent of your overall income. You can protect against those clients you feel are the riskiest, or protect against all income.

Discuss Your Needs With Our Credit Insurance Brokers.

Whatever you wish to do, speak to one of our credit insurance brokers first and find the best debt protection for your business, because it is too late by the time it happens to you. You have the chance to do something about this happening, so give us a call today on 0845 5390053