The short answer is that all businesses can benefit from invoice insurance.
Insurance is one of those things many people believe they can't afford — and it's no wonder when considering the premiums advertised for the whole turnover of a business. Yet, going without invoice insurance means taking on additional financial risk that many SMEs can not afford.
Even when the business runs smoothly, it pays to plan and be protected for when the market becomes less favourable. Unlike large companies that may have the resources and savings to bounce back quickly when invoices go unpaid, an SMEs recovery is more likely to be dependent on its insurance.
So what can you do to make it more affordable?
Well, in actuality, most people overestimate the expense of invoice insurance. Nimbla makes it affordable by enabling you to insure single invoices, so you can pick and choose the buyers you're most worried about. The cost to insure an invoice starts from £6 and our platform provides you with a view of the risk associated with the invoice along with an estimate payment date. This way you can manage the risk across your accounts and decide how much and how often you'd like to insure.