At Allianz Trade, we believe in making informed decisions. So, to help you make the best purchase for your business, we’ve listed the top questions we think you should ask when considering credit insurance for single contracts.
Check out the answers below and get in touch with our team to learn more.
We understand that a single contract can be riskier than your normal work if the value is higher or the timescale is longer. That’s where credit insurance for single contracts can help.
Single contract credit insurance is a single-situation solution designed to protect against non-payment risks. Fixed coverage safeguards invoices from losses and any work-in-progress costs throughout the contracted period with non-cancellable credit limits. It’s crucial for any business that is unable to absorb significant losses.
Our coverage is tailored to the terms of your contract and all tendering requirements, so you can enjoy comprehensive protection that suits your specific needs, preserving financial stability and ensuring seamless operations. If you have something specific that you’d like covered, ask our team!
Single contract credit insurance is flexible, so businesses aren’t locked into long-term commitments that aren’t wanted or needed.
The length of your single contract credit insurance policy will depend on your specific needs and the deal in question. However, at Allianz Trade, we offer credit insurance for single contracts up to three years.
Coverage will be agreed before a contract starts so the cost of protection can be incorporated into your customer’s contract. This means low administration for seamless protection once you’ve signed on the dotted line with your customer.
While both types of credit insurance protect your business from the risk of missed payments and provide you with the confidence to trade, they’re different in their coverage levels.
Short-term credit insurance protects your business’ contracts for a set period of time, whereas single contract credit insurance covers the length of one project or contract only.
Furthermore, unlike short-term credit insurance, single contract credit insurance has non-cancellable credit limits.
Make sure to ask yourself which is best suited to your business needs.
It’s all in the name: single contract insurance covers contracts for services or products, and credit insurance for lease agreements protects leases for goods.
Both a contract and a lease are an agreement. However, the actions at the end of their terms differ. At the end of a lease, goods or assets must be returned, whereas ownership is transferred with a contract.
At Allianz Trade, single contract insurance is available and fixed for up to three years, whereas credit insurance for lease agreements can be up to five. This extended coverage duration ensures sustained stability and confidence for longer.
Our insurance solutions safeguard you against non-payment risk and help you to grow with confidence.
You can expect worldwide non-cancellable credit limits, up to 90% coverage of the contract value, and coverage triggers that activate should your customer default or become insolvent.
We work with more than 62,000 clients worldwide, monitoring 83 million businesses in 160 countries, and are the trade credit insurance market leader.
Let us become your winning partner and take care of your trade credit risk. Get in touch for a free, no-obligation consultation.
Richard Miller
Region Head of Midterm – Northern Europe
Allianz Trade
Allianz Trade is the global leader in trade credit insurance and credit management, offering tailored solutions to mitigate the risks associated with bad debt, thereby ensuring the financial stability of businesses. Our products and services help companies with risk management, cash flow management, accounts receivables protection, Surety bonds, Business Fraud Insurance, debt collection processes and e-commerce credit insurance ensuring the financial resilience for our client’s businesses. Our expertise in risk mitigation and finance positions us as trusted advisors, enabling businesses aspiring for global success to expand into international markets with confidence.
Our business is built on supporting relationships between people and organisations, relationships that extend across frontiers of all kinds - geographical, financial, industrial, and more. We’re constantly aware that our work has an impact on the communities we serve and that we have a duty to help and support others. At Allianz Trade, we’re strongly committed to fairness for all without discrimination, among our own people and in our many relationships with those outside our business.
