As a small business offering goods and services, you may become vulnerable if one of your customers becomes insolvent or goes into administration. Unexpected losses can be devastating. Invoice insurance protects you against insolvent customers so you can trade with security and confidence.
Nimbla explained in four steps
Check the credit risk
We will check the credit risk for each invoice, allowing you to identify the invoices you may want to protect.
Insure your invoices
Provide us with some basic information, and we will give you an instant quote, and help protect the cash flow of your business.
Let us know when an insured invoice is overdue. If your customer is still trading, we will do our best to recover the money — free of charge to you.
If your customer doesn’t pay you because they have become insolvent or have gone into administration, we pay out 90% of the invoice value.
Why have invoice insurance?
Nimbla aims to protect your business from insolvent customers. As a small business, you may have doubts about a customer’s ability to pay. If they go bankrupt, it can potentially leave your business in a perilous situation. With invoice insurance, you can safeguard against this risk and continue to trade with security and confidence.
"We founded Nimbla to provide a great customer experience and help small and medium-sized businesses when they take out insurance."
Simple and easy-to-understand insurance
What we do
Full insurance cover against insolvency
Payment terms up to 120 days
90% of your invoice reimbursed
Cover for one year from the invoice date
No confusing forms or jargon
What we don't do
Late or overdue payments are not covered
Invoice disputes need to be settled first
How does invoice insurance work?
Let’s say you take out invoice insurance on a £50,000 invoice. You will receive 90% back in the event of an insolvency claim. We would then pay you £44,930 once everything is verified. If you don’t have insurance, then you would lose almost everything, so it’s always better to be safe than sorry.
With invoice insurance
Without invoice insurance
Frequently asked questions
Who can use Nimbla?
Every UK-registered business (including sole traders) doing business with UK-based limited and public limited companies.
Will I get the full amount back?
Not everything as there’s a standard deductible charge of 10%. We aim to pay you within 30 days once your claim has been approved.
Can I claim for late payments?
No, you can’t claim for late payments. Nimbla invoice insurance covers non-payment in the event of insolvency.
What is the maximum amount I can insure?
The maximum amount you can insure for a single invoice is £500,000 (subject to your customer's risk profile). You can insure multiple transactions from the same buyer.