Business Interruption Insurance

Business InterruptionThis  policy provision also know as Loss of Profits or Consequential Loss covers the loss of income that a business suffers after a disaster while its facility is being rebuilt.

A property insurance policy only covers the physical damage to the business , while the additional coverage allotted by the business interruption policy covers the profits that would have been earned. This extra policy provision is applicable to all types of businesses, as it is designed to put a business in the same financial position it would have been in if no loss had occurred.

Business Interruption insurance is not sold as a policy by it self but must be done in conjunction the Material Damage Policy.

 Business Interruption Insurance Covers:

  •  Increased working costs.
  • Operating Expenses , bank charges  and utilities that may occur even if the main business activities are temporally stalled.
  •  Based on your financial records, profits that would have been earned if your business had  not  been damaged  by the covered disaster.
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