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Frequently asked questions

Below is a list of Frequently Asked Questions to help you to understand how credit insurance can protect your business from bad debts as well as helping it to grow especially in the present economic environment.

How much does credit insurance cost?

The cost of a credit insurance policy is directly linked to the risk to which your business is exposed – and is related to the amount of turnover that you wish to insure.

It also varies according to the nature of your customers and where they are located, the trade sector in which you operate, and the track record of your own business in credit management.

The best way to get a more definitive answer in your own particular case is to contact Euler Hermes who have offices around the UK and a dedicated call centre to discuss the options and ask for a quote.

Also bear in mind, the real question is this: in a very uncertain world, can you afford to take the risk of being without protection?

Is credit insurance different from credit information and factoring?

Yes, it is. And it’s important that you understand how and why in both cases.

Credit information:

Credit insurance delivers professional opinions that are backed by insurance. Information agencies do not typically offer a guarantee to support their opinions. What’s more, much of the information gathered by Euler Hermes comes from our own intelligence gathering. This often makes it much more up-to-date than published information, which can be over 18 months old.

Factoring:

As a credit insurer we do not finance companies by advancing monies against receivables. However, our activities can be complementary, so it’s a good idea to discuss the options with us.

Can credit insurance cover me when I do business abroad?

Whether operating domestically or internationally, credit insurance is seen as a vital requirement for small to large sized businesses. Euler Hermes has solutions which suit the needs of even the smallest of these – letting them benefit from our long experience with some of the world’s largest multinationals.

Credit insurance can reduce the unnecessary cost of bad debt and protect hard-earned success, and provide the cornerstone of secure growth.

Throughout the UK, millions of small to medium sized businesses like yours are benefitting from the peace of mind and confidence that springs from their close relationship with Euler Hermes, who are the UK’s largest credit insurance provider.

How much does credit insurance cover?

On average, the level of indemnity is 90%. But this can vary depending on the type of policy you choose or on your specific requirements. Euler Hermes offers you the flexibility to put together the protection you need at a cost you find acceptable. Our professional advisors will guide you through the different options – letting you make your decision without any pressure.

Do I have to insure all of my customers – and my entire turnover?

The majority of clients choose this route as it is the most cost effective – but you don’t have to. Euler Hermes is flexible and can respond to the particular circumstances of any small to medium sized business. You might want to cover just certain markets or your exposure to exceptionally high losses. That’s fine, we will tailor a policy to suit.

How creditworthy are your customers?

We’ll analyse 10 of yours for free

Our global business intelligence network enables us to access accurate information on the performance and stability of over 40 million businesses. Choose 10 of your customers for us to assess and we’ll give you an idea of the credit limit we’d recommend for each

 

 

 

 

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