Business Insurance
Business Interruption Insurance
Safeguarding your business’s ability to continue to make money.
Business interruption insurance can assist your business to keep running smoothly, in case the insured property is lost or damaged after a catastrophic event such as fire, by covering ongoing costs so you can recover and rebuild.
Here’s what you need to know!
Who should consider getting Business Interruption Insurance?
As a business, there will always be ongoing expenses that you need to pay even if you’re not generating any revenue – like wages, supplier invoices, rental or loan repayments.
Business interruption insurance can help you get through a temporary crisis by protecting your cash flow – so you can take care of these expenses, and help ensure the future of your business.
What can Business Interruption Insurance cover?
Business interruption insurance can cover the loss of any sales you would have made while your business is out of action – plus any extra costs you incur to stay open.
It may also include:
- Ongoing operating expenses, such as electricity and rent.
- Relocation costs for moving to, and operating from, a temporary location.
- Training costs for operators of replacement machinery.
- Closure of your business premises due to government-ordered street closures or curfews.
- Damage to a supplier’s premises which has a negative flow on effect for your business operations.
What isn’t covered under Business interruption insurance?
There are exclusions. There is also often a deductible or excess and limits on cover. Please contact us at JGM Insurance Brokers for more information and we will be happy to help you.