The Business Interruption policy explained...
What's special about this policy?
Business interruption insurance covers you for the costs and losses you would incur if you were prevented from carrying out your business.
The interruption could be as a result of a fire or flood at your premises, a burst water or gas main in your neighbourhood.
The insurance covers the costs of moving to other premises while yours are being repaired, the costs of temporary rental equipment and any loss of revenue you suffer. As such, it's a vital component of your disaster recovery plan.
There are three different types of business interruption cover available, you can choose just one, or all three, whatever you feel is most suitable for your business:
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Loss of income - This insurance pays the difference between the income you actually achieve in the period after a catastrophe at your premises and that which you might reasonably have expected to achieve.
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Increased operating costs - This is also known as 'additional expenditure' or 'increased costs of working'. If you have to relocate in order to carry on your business, you'll be covered for the costs you incur, such as removal costs, extra rent and so on.
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Outstanding debts - This is also known as 'accounts receivable' or 'book debts'. This insurance comes into play if your accounting records are lost and you are therefore unable to recover money owing to you from customers. This policy automatically includes £100,000 of cover for outstanding debts.
Policy documents
The documents for our policy are linked below:
The quotations for business interruption insurance available on this site will protect your business for a period of up to 12 months loss of income and increased operating costs, if you would like to specify a longer period, let us know and we'll prepare a bespoke quote for you.
