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Frequently Asked Questions

Find out how Nimbla can help protect your business

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If you have a question about Nimbla or single invoice insurance, take a look at the frequently asked questions below.
If you're question doesn't appear below, please do get in touch and we will get back to you as soon as possible.

What is single invoice insurance?

Single invoice insurance is our new, flexible form of trade credit insurance, protecting you should your clients declare insolvency.

By offering cover on individual invoices single invoice insurance allows you to get the cover you need without fixed recurring premiums or lengthy commitments.

What does single invoice insurance cover?

Single invoice insurance protects your business from customer bankruptcy or insolvency as well as the cost of debt collection.

Can I insure any invoice?

We are currently only able to insure invoices raised with UK businesses (not individuals) on credit terms of up to 120 days. We are offering cover for export (overseas debtors) soon.

We recommend insuring your invoices early as 'old' invoices may not be insurable if a significant amount of time has passed since it was raised.

Cover may not be possible if your buyer has a very low credit rating. You can check your customers’ credit ratings free of charge by using Nimbla.

How much does insurance cost?

Cover can be as little as 0.2% of the invoice value while our 'minimum premium' is just £5.60 (or two posh coffees!) including Insurance Premium Tax (IPT).

The price varies with risk as well as the credit terms. For an estimate simply join Nimbla and synchronise your cloud accounting.

Why has the price to insure an invoice changed?

Estimates consider a range of factors including the credit worthiness and payment behaviour of your customer, and will respond to new information.

Why are my invoices showing as N/A?

This usually happens if your invoices were raised some time ago. We recommend insuring your invoices soon after they have been raised (it costs the same).

Insurance may not be available if an invoice has credit terms over 120 days, or if your client has a very low credit rating. You can check your customer's credit rating using Nimbla.

What if I don't have Xero?

You can sign up for a trial account here.

Or send us an email at info@nimbla.com or call us on +44 1423 222 417 and we will try and help you.

What if I don't have cloud accounting?

We can still help, send us an email at info@nimbla.com or call us on +44 1423 222 417.

Isn't this just invoice factoring?

No, we don't advance cash, but rather protect it.

What we offer is an alternative to the existing whole turnover trade credit insurance policies. We can help you get better finance by insuring your receivables. Contact us for more details at info@nimbla.com or call us on +44 1423 222 417.

When will I get paid?

As soon as an event occurs we can process the claim.

An event is the insolvency of the company (debtor). If the debt collection service is used we will simply cover the fees directly.

We aim to dramatically improve the time to payout claims and estimate 95% of claims will be paid within 48hrs.

What excess should I expect?

Rather than a fixed excess we use co-insurance.

This is typically 10% of the claim value, although this may vary. The co-insurance percentage will be presented before you purchase your policy.

What is co-insurance?

Unlike a fixed excess, a co-insurance deductible is a percentage of the claim value so if you have a smaller claim due to partial debt recovery your deductible will go down too.

Is my data secure?

Yes. We adhere to strict policies regarding the use of your data in line with the requirements of the Data Protection Act. We are registered with the Information Commissioner's Office, with registration number ZA259762.

Please check our Terms and Conditions as well as our Privacy Policy for more information.