Why businesses should be careful of Business Interruption Insurance

Business Interruption Insurance covers you if your business is interrupted:

–         Due to damage to your premises

–         From an insured event

which affects the trading results of the business.

All small businesses need protection from accidents and disasters as otherwise their long term viability is at risk. This can include a fire or a burglary. What often is overlooked is the need to protect against the loss of income that may follow such an event.

Business interruption insurance can replace the lost income needed to pay for ongoing expenses such as rent or wages as well as any profit the business would have made.

The cover can also include loss of gross profit, loss of rent and increased costs as a result of the situation like relocation costs or advertising a new premises.

When a claim for buiness insurance is made it its not uncommon for an insurance company to send in a loss adjustor to value the amount of the claim, however, this loss adjuster works for the insurance company and in most cases will undervalue what you believe your insurance should be.

If you want to avoid this common pitfall of paying for insurance that you will never truly get the value of if you make a claim, then call one of our friendly staff at Professional Insurance Brokers, on 1300 776 346 (or 1300 profin) and we will be able to assist you.  Alternatively you can always Live Chat with us on our website during business hours.