Protect your business from loss of income in unforeseen circumstances.
A form of insurance coverage that replaces business income lost as a result of an event that interrupts the operations of the business, such as fire or a natural disaster. Business interruption insurance is not sold as a separate policy, but is either added to a property, casualty policy, or included in a comprehensive package policy.
This policy covers loss of net profit and continuous expenditure towards standing charges and reasonable increased cost of working incurred to avoid the reduction in turnover.
It is important to select an appropriate indemnity period during which the business can be restored to its pre loss position following a financial loss.
Business interruption insurance is an add-on cover and is usually purchased alongside core business covers such as liability insurance.
Although it is assumed that liability insurance or building and content insurance will cover loss of income, this is not the case. Only business interruption cover provides the protection for financial losses sustained as a direct result of the disaster or business interruption event that occurred.
Our business interruption cover is suitable for most business types. Speak to one of our insurance specialists to discuss your requirements.
Any profits that would have been earned during the time that the business was unable to run.
Any power, communications & water disruption costs caused by external service providers.
The expenses that you may suffer due to operating from a temporary location or having to relocate.
Some Additional Expenses
“Reasonable expenses” are also covered. These would be expenses that enable the business to continue its operations whilst the repair work is ongoing.
Any continuous operational costs which the company must pay even through its not operational. This would be based on previous records.