Business Interruption Insurance
Business Interruption Insurance can protect your business from lost revenue and profits in the event of a fire, flood, earthquake, burglary or accident.
Business Interruption Insurance can help keep your business running if the worst happens and your business is unable to operate.
It can cover you for loss of revenue and profits, as well as paying for fixed expenses like wages. You’ll still need a separate Business Assets or Material Damage policy though to cover your business assets.
Who needs it?
Anyone operating a business today to cover you for lost profits due to a temporary closure, increased costs for leasing alternative premises, hiring equipment, and landlord’s loss of rent because tenants can’t occupy your building.
There are other business insurance solutions to help reduce your risk. Here are some examples.
Gross Profit Insurance - can cover you for profit lost or increased costs of working if an insurable event occurs.
Advanced Loss of Profits Insurance - can cover you for financial losses you incur as a result of a delay caused by an insurable event.
Machinery Breakdown Insurance – can cover you for profits lost if your machinery breaks down - (outside of normal wear and tear).
