- January 30, 2019
- Posted by: Editorial
- Category: Insurance
When creating a company, often, you’re going to have to take out a loan. In these cases, it’s actually very common to subscribe to a loan insurance! However, this is not a decision that is to be taken lightly; you need to closely evaluate the risks, especially when it comes to payments.
1 – Make use of competition
Insurance companies always try to get new clients, and a business can be quite the customer. Try to bring up the competition during negotiations to get the best offer possible!
2 – Have an audit before contacting the insurance companies
In most cases, the bank or insurance company will audit your business anyway. However, it’s likely that theirs would be oriented in a way that would put you at a disadvantage so that they’ll be able to propose offers better for them!
Using a neutral third-party to audit your company guarantees that you’ll be able to get the best offer possible, both from the bank and from the insurance company.
3 – Pay attention to the reimbursement methods
This is something you must do when taking out the loan. You need to pay especially close attention because once you’ve signed the contract, you can’t go back.
Because you need your insurance to cover risks linked to reimbursement and your financial solvency, it’s best to analyze these risks very closely before taking out a loan.
4 – Choose insurance that protects your personal assets
If you can’t pay back your debts, banks (or debt creditors in general) will often try to seize your personal assets. As such, it’s best if you can get insurance that protects your personal assets as best as possible. That way, even in the worst case scenario, you’ll still have something to bounce back with.
Banks will pretty much never grant you a loan in France if you’re not insured, so loan insurance might as well be mandatory. As such, you might as well make sure that you get the best insurance and the best deal as possible!