Accounts receivable insurance, sometimes called credit insurance, is an important asset for those working with big clients or clients who owe them millions. To put it simply, it’s a valuable way to insure the money that other individuals or businesses owe you for your service. It covers your business in a way that protects from potential financial losses due to an inability to collect the money that a client owes you.
For example, let’s say a large company owes several contractors money. Even if they have every intention of paying, something could cause a severe impact to their business. They could go bankrupt or default on loans. Whatever the cause, if it leads to them no longer having the means to make the payment, this type of insurance reimburses you for that loss.
When you need insurance to guard you from the ups and downs of life, consider Three Arbor. We’re an independent agency and our goal is to culture relationships that last. Contact us today!
