What if your business is brought to a sudden stop? Business interruption insurance pays for help and support getting the business back up and running because of a flood, a computer system failure breakdown, fire, theft or any number of other common, everyday risks.
What’s covered?
Business interruption insurance pays out for financial losses arising as a direct consequence of a business interruption. It covers:
- The profits you would have made based on previous months’ financial statements
- Fixed costs like operating expenses
- Temporary location, the expenses you face from setting up business temporarily
- Commission of – and training for – people who have to operate unfamiliar replacement machinery
- Reasonable extra expenses beyond your everyday, fixed operation costs
- Civil authority ingress and egress, when your premises has to close because of curfews and street closures
- Optional contingent business interruption coverage, which pays out when you can’t operate because your premises, your supplier’s or customer’s premises can’t be used