Contrary to popular belief, credit insurance isn’t just for customers. Check out how it can benefit retailers in the long run.
Credit insurance. It’s a great tool for customers who might have major financed purchases. But many retailers may not know that credit insurance can both help keep customers safe and protect their business from defaulting payments—payments that ultimately end up on them.
If you’re facilitating in-store, non-credit card financing for customers, there’s always a chance a major life event may affect their ability to fulfill monthly payments. No one can foresee what kinds of circumstances might influence their financial livelihood. And that’s exactly where a credit insurance policy would come in.
Preventing payments from going into default, credit insurance acts as a safety net that keeps customers protected, and safeguards retailers by ensuring they won’t see a gap in payment—or revenue—from that customer’s purchase.
Help your customers, and help yourself. Learn more about how Fortegra can help safeguard your business with credit protection here.