Sorry We Are Closed – Business Interruption Insurance

Sorry We Are Closed - Business Interruption Insurance

Business Interruption Insurance – A cover overview

Following an insurance claim, if your premises are temporarily unusable, what would you do next?

Would your business be able to pay utilities, wages or any other standing charges without any income?

It could take months before the damage property is rebuilt and stock, machinery and equipment are repaired or replaced. Most importantly key customers could be lost. Ideally, you would move to a temporary location while your permanent place of business is being repaired. Yet, traditional property insurance does not cover this move or a loss of income when a business must temporarily close. With Business Interruption Insurance, this setback can be minimised by simply adding this cover to your property insurance policy.

What can be included in a Business Interruption Policy?

  • Compensation for lost income if your business has to vacate its premises as a result of disaster-related damage covered under a property insurance policy.
  • Compensation for the gross profits that would have been earned based on previous financial records, had the major loss/peril not occurred.
  • Covers operating expenses, such as utilities, that must be paid even though business has temporarily ceased.
  • Covers the increased cost of working, including expenses of operating in a temporary location while repairs to the permanent location are completed.
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If you would like more information about Business Interruption Insurance download our Cover Overview.


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