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 Street, New Farm
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Aimee made gaining a competitive insurance quote for our property a breeze. She communicated promptly and clearly, going out of her way to make sure the details were correct and I was happy with the product quoted. I wouldn’t … More hesitate to recommend her to anyone and she will be my first contact when looking for insurance needs in the future.
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Tracey Eaton was absolutely fantastic to work with! She found us a great deal on our insurance and made the whole process so easy. Highly recommend her . She is professional, helpful, and genuinely caring.
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I recently worked with Consolidated Insurance Brokers for a property insurance matter, and I was thoroughly impressed. Alison Neve handled my inquiry and was absolutely fantastic to deal with. She sourced six quotes within … More a day and managed to match one of them to my current insurer’s price—while offering even better benefits.What really stood out was Alison’s dedication. Despite heading off on leave the next day, she stayed back late to get everything sorted. Even after her leave, she followed up to make sure everything was in place.I truly appreciate this level of service and commitment. It's not easy to find such a hardworking and responsive team. I highly recommend Consolidated Insurance Brokers and look forward to working with them again.Thank you, Alison!
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A quick search online for Commercial Insurance led me to CIB, and I'm so glad that it did. Aimee Spencer made the whole process really easy for me, even though I first contacted them at 4pm on a Friday afternoon 🙂 She … More answered all of my questions and explained everything clearly, thoroughly professional. Outstanding customer service. Would highly recommend Aimee and Consolidated to anyone looking for business insurance.
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Debbie at Consolidated Insurance Brokers was exactly what I needed. I received very clear advice and support from her regarding my insurance inquiries. I highly recommend taking the time to talk with Debbie you won’t be disappointed.Thank … More You so much Debbie for helping me purchase the appropriate insurance for my investment. Excellent Service and Professionalism.Regards Deborah Movliatti
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.
