How much does credit insurance cost?
With a classic credit insurance policy, the premium is calculated based on the amount insured and hence to a percentage of the insurable amount.
That percentage is defined based on the following factors:
- the amount to be insured
- number of customers
- type of customers
- period of credit granted
- countries to be insured
- claims statistics
Taking the current market situation into account, the premium rate in most cases falls between 0.05% and 1.75%.
Other credit insurance packages are possible in which the policyholder pays the outstanding balance of the insured capacity.