Accounts Receivable Insurance Coverage in DFW

So, what would happen if you were unable to collect on those previously agreed-upon payment agreements? Should your earnings suffer significantly? How much of your day-to-day revenue is focused on contracts? There are several questions to answer before deciding if the company will benefit from Accounts Receivable Insurance coverage.

Accounts Receivable Insurance (also known as AR Insurance) is a simple, safe, and low-cost policy that covers the corporation from nonpayment for goods or services.

Tower Street Insurance & Risk Management will assist you in protecting yourself from nonpayment. We will assist you with protecting the accounts receivable, whether the nonpayment be due to insolvency or a customer's failure or unwillingness to pay under the terms of a contract.

You can find our service at Allen, Austin, Dallas, Plano, San Antonio, Southlake, Westlake and surrounding areas. 

Call us at 972-472-2040 to know more about our service with free estimates!

What Is the Process of Receivables Insurance?

Accounts receivable policy usually protects you from one or more of the following potential dangers or risks:

• A client does not pay you for products or services supplied to them because the customer is no longer in operation, has changed hands, or has gone bankrupt.
• Your receivables documents are lost as a result of a covered loss, such as arson, burglary, or extreme weather.

You will be able to pick which consumers you wish to cover against when you first apply for the accounts receivable insurance policy. However, you must send all of your accounts receivable reports to the insurance provider in order for them to get a good view of what the company is doing and to avoid false claims.

Some of the information you’ll need to submit to the company includes:

• A list of the former bad loans and write-offs
• A list of all of the remaining receivables
• A comprehensive list of the receivables clients
• Which customers you want to insure against, as well as their payment history, unpaid balance, and the amount of insurance you want to provide on each customer 

When designing your contract, you can even determine how much of the payout you wish to insure. The bigger the percentage you insure, the lower your claim payout, so you'll still have to pay a higher fee for more coverage.

If you have a deficit, accounts receivable protection has reasonably large coverage. For instance, if you miss your accounts receivable records, this coverage will cover the expense of replacing those records, and the cost of recruiting a company that specializes in data recovery and collection. It will also cover interest payments on any loans taken out to compensate for missed profits from uncollected accounts receivable.

Why is Accounts Receivable Insurance a Good Investment Decision?

Accounts receivable insurance is part of an intelligent business plan because it: 

• It safeguards your receivables while increasing your cash flow.
• Reduces leverage and strengthens the balance sheet
• Using the policy to get more revenue to free up other assets.
• Allows you to have better credit terms and payment plans to your clients.
• Assists you in receiving larger orders and moving into new and developing markets with confidence.

Trust on Tower Street Insurance & Risk Management for Accounts Receivable Insurance

For several years, Tower Street Insurance & Risk Management has been popular in DFW and surrounding areas. We have more than 150  collective years of experience in insurance field and around 5.5K written policies.

We have commercial insurance coverages for directors & officers, workers’ compensation, cyber liability, personal and commercial risk management service and client advocacy. Call us today at 972-472-2040 or contact online to know the reviews from our satisfied customers.

Client Advocacy

100

Carriers

150

Collective Years of Experience

3.5k

Written Policies

98%

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