Business Interruption Cover
What is Business Interruption Cover?
Often one of the most misunderstood insurance policies on the market, Business Interruption Cover is absolutely crucial in protecting your business if a serious incident occurs that may cause sudden loss of revenue or rental income.
If your business carries a substantial amount of stock or operates from a unique location like bespoke offices, then this insurance should be high on your list of priorities. Business Interruption Cover could be the only way to keep your business operational while you work to get back on your feet.
In the event of a serious incident affecting your business, this insurance policy will step in to guarantee you will be able to get your business back up and running as quickly as possible.
How does it work?
In these circumstances, Business Interruption Cover would step in to pay your business a sum in the eventuality you experience a (pre-tax) shortfall in profits or any increased costs of running your business as a result of a serious event.
Any policy of this type can:
- Cover your business for losses of revenue
- Support your return to trading
- Help pay employees on time
- Keep your finances and business afloat
Why is it important?
The main reason to take out suitable Business Interruption Cover is to protect your business against the unknown, ensuring you can continue to trade and return to normality as quickly as possible.
Business Interruption Cover is taken out to cover your business if you are unable to partially or fully carry out your day-to-day activities and subsequently suffer a loss of revenue caused by damage to your premises or those surrounding you, failure of public utilities, discovery of vermin or pests, specified diseases, food poisoning, murder or suicide.
For more information on Business Interruption Cover, speak to our team today.
Asset Protection Insurance
An Asset Protection Insurance policy protects your business against the potential gap in cover between Professional Indemnity (PI) insurance and the total amount of a third party claim.
Revenue Protection Insurance
A Revenue Protection Insurance policy protects your business against any significant drop in income, generally as a result of the incapacity of a key person or building, regardless of whether you are a retailer, manufacturer or wholesaler. It can also offer protection to businesses offering specific professional services.
Legal Liability Protection
A Legal Liability Insurance policy protects your business from potential compensation claims that follow from negligence brought against you by employees, clients, customers or members of the public.
- Top 100 UK independent broker* with Chartered Insurance Broker status
- Free no obligation review and quotation
- Talk to a dedicated insurance expert to guide you through the process
- Bespoke levels of cover tailored to your individual requirements
- Competitive premiums underwritten by the UK's leading insurers
- Dedicated in-house claims team who will deal with any claim on your behalf
- Payment of premium by monthly instalment available (subject to status)
- Free access to online risk management services
* Top 100 Independent Brokers 2013 published by Insurance Age in association with Cornell Consulting
Have you recently opened your own retail coffee shop? Or are you just browsing the market for insurance policies that your store would benefit from? At Alan and Thomas, we have a variety of different insurance policies that suit particular industries and retail stores. We recommend three main insurance policies for coffee shops that include legal liability, property damage, and equipment breakdown insurance.
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