Who should consider it?
For most business owners, there are ongoing expenses that you need to pay even if you’re not generating any revenue – like staff wages, supplier invoices, rent or loan repayments.
Business interruption insurance can get you through a temporary crisis by protecting your cash flow – so you can pay these expenses, and help ensure the future of your business.
What can it 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 cover?
There are exclusions. There is also often a deductible or excess and limits on cover, so check with your Lesure insurance broker.