Which insurance to choose - export transaction or sales turnover insurance?

Main differences between sales turnover insurance and export transaction insurance


  • 1-3 buyers
  • Export sales do not exceed 500,000 EUR
  • Domestic sales transactions cannot be insured
  • An individual transaction can be insured
  • Transactions concluded with one buyer within up to one year can be insured
  • Minimum insurance premium 150 EUR
  • Sales on credit terms for up to 180 days
  • Principal communication and preparation of the contract through the website

    Read more


  • More than 3 buyers
  • Export sales exceed 500,000 EUR
  • Domestic sales transactions can also be insured
  • All sales or all export sales can be insured
  • No buyer-based selective insurance (such as only all exports to Finland or only sales in Estonia)
  • Minimum insurance premium 2,000 EUR
  • Personal consultation with a client manager, if necessary
  • Companies whose sales do not exceed 2 million EUR can use our calculator to estimate the cost of the insurance and submit a request of an offer on our website

    Read more

What buyer data must be provided when submitting an insurance application?

It is important to provide the buyer’s name, address, VAT or registration number and contact person. The buyer must be a company.

Do I have to fill in a separate application for each buyer?

Yes, for export transaction insurance. If you have more than 3 buyers, we recommend using sales turnover insurance.

When will I know the amount of the insurance premium?

The estimated amount of the insurance premium can be found out when submitting the application, and the exact insurance premium will be determined after analysing the buyer’s background and financial position. We will send an insurance offer to the customer.

How quickly will the results of the financial analysis regarding the buyer be known?

The background study and solvency analysis regarding a buyer usually take a couple of days, but for more exotic countries and more complex cases, they can take up to two weeks.

What does the insurance premium depend on?

The insurance premium depends on the country of the buyer, the payment deadline, the financial capacity of the buyer and the amount of the insured transaction.
For example, export transaction insurance is more expensive for a Russian buyer than in the case of a Finnish buyer because Russia is a riskier country.

When will my insurance policy take effect?

The insurance policy will take effect on the same day as the insurance premium is paid to AS KredEx Krediidikindlustus. Thus, insurance coverage will apply to deliveries made after payment of the insurance premium.

What should I do if it turns out that an insurance contract cannot be concluded?

In order to check the buyer’s background, AS KredEx Krediidikindlustus collects the necessary information, for which we have to pay. This means that the application fee must still be paid by the customer.
We cannot provide insurance if, for example, the buyer’s financial position is weak or the buyer is indebted to other sellers. In this case, we will send the relevant information to the customer and advise the customer to require a prepayment from the buyer.

Why do I have to pay for the insurance application?

AS KredEx Krediidikindlustus will check the background and analyse the solvency of the buyer for the fee; the information necessary for the checks and analysis is not provided for free.

What should I do if the buyer fails to pay the invoice for the insured transaction?

First you should remind the debtor of the payment yourself. If the debtor is unable to pay or does not respond to your reminder, notify AS KredEx Krediidikindlustus no later than 15 days after the due date.

Does the insurance cover all the damage?

No, the export transaction insurance also has a deductible, which is 15% of the loss, without exceeding the sum insured. For sales insurance, the deductible is usually 10%.

In addition, the agreed costs of collection will be reimbursed.

Which documents do I have to submit to KredEx to be paid the indemnity?

- Contract or order
- Confirmation of receipt of the goods or service
- Invoice

What are the risks covered by credit insurance?

Credit insurance will be of help if the buyer fails to perform the payment obligation and will cover the buyer’s payment risk, which may result from a commercial or political risk.
A POLITICAL RISK means that it is impossible to collect the amount due for the goods due to obstacles in the country of the buyer. Collection may prove to be impossible due to various circumstances, such as war, currency shortage, currency constraints, import and export bans or intervention/acts of local authorities.
A COMMERCIAL RISK means that the buyer/debtor fails to make the payment due to bankruptcy, insolvency or reorganisation, or has not met the payment obligation for six months past the due date.

How long a payment term can I offer to the buyer?

Not longer than stated in your insurance contract. Export transaction insurance covers invoices with a payment period of 30-180 days. Sales turnover insurance covers invoices with a payment period of up to 360 days.

What is buyer’s insolvency?

Insolvency is a situation where the buyer/debtor fails to make the payment due to, e.g. bankruptcy, insolvency or reorganisation.

If I have only one buyer, can I also take out insurance?

Yes, export transaction insurance can be taken out for one buyer if the buyer is located outside Estonia.

Can I take out insurance in respect of my Estonian buyers?

Yes, sales turnover insurance is a good option for this.