Trade Credit Insurance
Sell business-to-business with credit terms? Trade credit insurance protects your cash flow from customers not paying.
The resource of choice for the country’s most forward-thinking insurance professionals.
The resource of choice for the country’s most forward-thinking insurance professionals.
Trade Credit Insurance
Rely on a reputable insurance broker
What is Trade Credit Insurance?
Trade credit insurance provides a safety net for the income of businesses that offer credit payment terms to business clients. It covers your trade, so you have the certainty of getting paid if your client doesn’t pay.
By protecting your cash flow, trade credit insurance allows you to operate confidently and focus on growing and improving your business. It can also increase your borrowing capacity with banks by guaranteeing your receivables.
Trade credit insurance providers often partner with debt collection agencies, who will step in to help you recover debts, and credit check services may be offered as part of your policy benefits.
Total premiums for this type of cover start at around $10,000; so these policies are best suited to businesses with high values of credit or receivables, especially in the construction industries.
What can be covered
- Blanket cover for your entire list of debtors
- Selective cover for single or key high value accounts
What may not be
- Personal or consumer credit (ie. not business or commercial)
- "Pay when paid" contracts
- Consignment contracts (unless agreed to by insurer)
Get started with Trade Credit Insurance
By protecting your cash flow, trade credit insurance allows you to operate confidently and focus on growing and improving your business
Trade Credit Claim Example
Mark is a glazier with an ongoing contract with a large commercial builder to supply and install glass in new office buildings. The builder uses their unequal bargaining power to impose 60 day payment terms on Mark.
After completing a large $75k project, Mark submits his invoice through to the builder for payment and at day 60, he doesn’t receive payment as expected.
As Mark has trade credit insurance, he contacts his insurer to notify them of the default, and they appoint their collection agency to chase the builder. Mark has peace of mind knowing he will get most of his $75k invoice paid either by the builder, or his insurer if they can’t recover within 30 days.
Not only does he avoid a long legal battle at his own expense, he can be confident of receiving his payment in a reasonable time!
Why Choose CIB?
Consolidated Insurance Brokers can help by placing you with the best policy for your needs. We’ll find you the most competitive rate possible, and offer advice to ensure your insurance protects what matters.
Our Expertise
Committed to finding you the best insurance solution, our team of knowledgeable insurance brokers will get you the best price available
Your Partner
Safe time and effort by letting our team of expert insurance brokers do the work for you, we can manage your insurance on your behalf.
Clear Terms
We will put an end to the endless jargon, we can help you understand your quotes and policies in clear terms.
Full Cover
We are able to access insurance policies that are not available when buying direct, allowing us to get you a more comprehensive cover and better benefits.
What our clients have to say
109 James St, New Farm
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I just had found CIB from google search and Nikky Brown from CIB was connected as our consultant to get a new insurance policies for business purposes.She was absolutely experts and intelligent to recommend all type of business … More insurances to protect her customer to run the business. Highly recommend to anyone who are looking to get professional advice for your properties.
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Tracey was fantastic to work with. She was knowledgeable, responsive, friendly, and always happy to answer my many questions throughout the process. As a startup founder looking for insurance for an online platform, I appreciated … More how clearly she explained everything and made what could have been a complicated process feel straightforward.I received other quotes that took longer to arrange and involved multiple insurers, making them difficult to compare. Tracey was able to provide a comprehensive and competitive solution bundled through a single provider at a competitive price, which made the decision easy.I would highly recommend Tracey and Consolidated Insurance Brokers to anyone looking for professional and personalised service.
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I went with CIB insurance because the customer service was top-notch. Debbie was super helpful from start to finish and no question was too hard for Debbie. She even mentioned that she had been working in the business for … More 15 years which you can tell from her advice.Debbie provided alot of advice on what would be best for my business.I feel comfortable with the policy Debbie provided as she went into detail to get coverage for everything.Highly recommend CIB and Debbie.
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I was referred to Alison through a personal recommendation after we had been struggling to find direct insurance for our business refrigerated van within a very tight timeframe. From the beginning, Alison provided outstanding … More service and made the whole process feel easy and stress-free.She was always contactable, professional, and incredibly helpful throughout every step. We had urgent deadlines and even needed last minute changes very late in the day, and Alison still went above and beyond to make sure everything was completed on time.Her communication, responsiveness, and genuine care for her clients really stood out. We are very grateful for all her support and would highly recommend Alison to anyone needing insurance assistance.
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Tracey was fantastic to deal with - professional, friendly and made the whole insurance process simple and stress free. Great communication, quick responses and took the time to explain everything clearly. Highly recommend … More for anyone needing reliable insurance advice and support.
How can we help?
With access to a range of reputable insurers, and policies not available to the public, we can offer you a range of competitive quotes.
We’ll help you compare the price with the coverage offered for each, so you can make the best decision for your needs.
Trade credit insurance is complex and very individual to the policyholder’s business and balance sheet, so it’s important to have an excellent adviser.
For every new business quote and renewal, we break down all important changes and comparisons of your trade credit insurance options for you in plain English.
Frequently Asked Questions
There are many benefits of using a broker over buying directly from the insurer. Insurance brokers:
- Work on your behalf to secure you better protection through their negotiating power
- Help you understand your risks and empower you to make better life / business decisions
- Ensure insurers are held accountable to their promise to protect what you value during claims
- Save you time and money by taking care of comparing and customising policies for your needs
No Obligations, Completely Free
Get a Quote Today
Talk today with our team to find the right kind of insurance that will suit your needs.
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The resource of choice for the country’s most forward-thinking insurance professionals.
The resource of choice for the country’s most forward-thinking insurance professionals.