Accounts Receivable Insurance Coverage in Dallas-Fort Worth
So, what would happen if you were unable to collect on those outstanding payment agreements? Would your earnings drop significantly? How much of your day-to-day revenue is dependent upon contracts? There are questions to answer before deciding if your company will benefit from Accounts Receivable Insurance coverage.
For businesses that depend heavily on the steady income from monthly agreements -- and that includes most businesses -- accounts receivable insurance is a simple, safe, and low-cost policy that covers the company from nonpayment for goods or services. For years, our insurance agents at Tower Street Insurance & Risk Management have protected business owners from nonpayment in Allen, Austin, Dallas, Plano, San Antonio, and other cities we serve in Texas.
We will assist you with protecting the accounts receivable, whether the nonpayment is due to insolvency or a customer's failure or unwillingness to pay under the terms of a contract. For more information, call us at 972-472-2040 or click here to get begin creating your custom policy today.
When Do I Need Receivables Insurance?
Accounts receivable insurance protects you from one or more of the following potential risks:
- A client does not pay you for products or services supplied to them because the customer is no longer in operation, has changed ownership, 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 specify which customers to include in the policy when you first apply for accounts receivable insurance. 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 to violate your agreement.
Information Need for a Receivables Policy
- 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
- A list of customers you want to insure against, as well as their payment histories
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. If you have a deficit, accounts receivable protection has a reasonably large coverage. 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 Tower Street Insurance & Risk Management for Accounts Receivable Insurance in DFW
For several years, Tower Street Insurance & Risk Management has been popular in DFW and other Texas cities. Our agents have more than 150 collective years of experience in the insurance field and have written more than 5.5K policies. In addition to accounts receivable insurance and other commercial insurance coverage options, we also write policies that cover directors & officers, workers’ compensation, cyber liability, commercial risk management service, client advocacy, and more. Call us today at 972-472-2040 to learn more or click here to get started on your policy today! Feel free to consult the reviews from our satisfied customers.
Client Advocacy
Carriers
Collective Years of Experience
Written Policies
Retention Role
Reviews from Our Satisfied Customers
I love Tower Street and receive the best service from them! They are reliable, caring, and always supportive. Can’t recommend them enough!
Chris is a great insurance advisor. He has extensive knowledge of markets, coverages, and risk. I highly recommend him. I wish I had more business to send him.
