What is Business Interruption Insurance?

Business interruption insurance (also known as Loss of Profits) will pay for your lost income should your income be disrupted by a claim.

For example, if your business suffers a claim for fire or burglary your income will drop or even stop: a good business interruption policy will replace your lost income until your business has recovered and is able to trade at the same levels it would have been at before the claim.

Extensions to a business interruption policy can also cover interruption to your income from less obvious causes that could be critical to your business, including:

Disruption of utilities
Damage at a supplier's premises
Damage at a customer's premises
Extreme weather
Denial or prevention of access to your premises
Disruption caused by death or suicide

Without business interruption insurance you might be able to repair or replace damaged buildings, equipment or stock but you will not be able to replace your lost income, customers or staff. Business interruption insurance will help your business survive. This could involve renting alternative premises and equipment, sourcing stock, paying overtime and communicating with customers.

Most business interruption cover is purchased as part of a commercial package or commercial combined policy.

If your business is reliant on data, computers or specialist machinery, you may want to consider specialist cyber, computer and/or engineering insurance. Similarly, if you are a landlord you may want to insure your rental income. If you organise events then cancellation insurance may be helpful.

We understand that all businesses are different & can advise you on what you do, and do not, need.
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