Invoice Insurance

What is Invoice Insurance?  

It really is what it sounds like. Invoice insurance guarantees that you will be reimbursed for the majority of a loss (90%) should your customer fail to pay your invoice. So in an instance when you send an invoice and count on it being paid (maybe the invoice total is larger than average, or the due date is critical), you can run your business with peace of mind. Do business as usual, knowing your cash flow is protected.  

How does it work and how much does it cost? 

For eligible users, each invoice you create or upload to Viewpost has the potential to be insured. The lower the risk rating a customer receives, the less expensive invoice insurance will be, and vice versa. A risk-rating assessment is determined by insurance provider, Euler Hermes, through a direct integration with Viewpost, resulting in a customized insurance price (per invoice) to be displayed with the customer’s risk rating. 

Review your options, and purchase insurance on any eligible invoices. In some cases, risk assessment will deem a customer or invoice ineligible to be insured. Ineligible invoices will not display an insurance option and cannot be insured.   

Note:  Payment must be received by Euler before the invoice due date to bind insurance coverage.  

What does the insurance cover? 

Invoice insurance covers any failure on your customer’s part to pay you within the terms of your agreement. 

The terms of the agreement require that you perform any services, or ship any goods included on the insured invoice within thirty (30) days of activating insurance.  

Insurance DOES cover: 

If you purchased invoice insurance, and your customer:  

  • Is late to pay (outside your agreed upon terms) 
  • Has become insolvent (out of business, bankrupt) 

You may file a claim for reimbursement of 90% of your invoice value. 

Insurance does NOT cover: 

  • Fraud claims for products or services undelivered 
  • Buyer/Customer disputes 

In the case of a dispute, you will need to resolve the dispute first and then file a claim if the customer subsequently defaults on payment. Ex. Your customer refuses to pay because a green umbrella was ordered and you sent red. 

How do I file a claim? 

Claims can be filed between fifteen (15) and ninety (90) days from the due date on the insured invoice. The 15-day grace period does not apply to cases of insolvency. If your covered customer has declared formal insolvency, you may submit your claim for payment immediately.  

After the 15-day grace period: 

  1. We’ll send a reminder email to you if we see that an insured invoice has not been closed by either a payment received through Viewpost or a payment received outside of Viewpost and recorded in the network.  
  2. Click on the “File a Claim” button in the email or if you received a payment outside of Viewpost, you can record the payment in Viewpost to close the invoice.  
  3. You may also log into Viewpost and ‘File a Claim’ from the invoice itself.   
  4. When you ‘File a Claim’, Viewpost will transmit your contact information and invoice to Euler Hermes to begin the claims process. 
  5. A Euler Hermes representative should contact you within 1-2 business days.  
  6. Once processing begins, you should receive a check payment from Euler Hermes within 30 days of submitting the claim.  

 What else do I need to know? 

First, it’s good business practice to attempt to resolve payment directly with your customer to increase your odds of collecting the full amount versus the insured 90% value.  Resolution also helps facilitate future transactions between your two businesses.  If you are unable to achieve resolution with your customer, you have up to 90 days from the initial due date on the insured invoice to file a claim. 

Have more questions? 

We’re here to help. For questions regarding Insurance, please contact Customer Support.

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