We calculate how likely your customer is to pay your invoice using industry-leading credit rating agencies. If your customer's credit rating is high, the price of your insurance will be lower.
The price is based on the value of your invoice. The lower the invoice value, the less costly it will be to insure. Nimbla can insure invoices of up to £500,000, subject to your customer's risk profile.
Your invoice will be protected until it’s paid, for up to 12 months. Longer payment terms increase the risk level and the policy price.
We also consider whether your customers pay other businesses on time. If their payment behaviour has deteriorated, this will affect the price of your policy.
Every UK-registered business (including sole traders) doing business with UK-based limited and public limited companies. We are working hard on adding invoice insurance for selling to overseas buyers.
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.
No, you can’t claim for late payments. Nimbla invoice insurance covers non-payment in the event of insolvency.
The maximum amount you can insure for a single invoice is £100,000 (subject to your customer's risk profile). You can insure multiple transactions from the same buyer.