Business Interruption Insurance reimburses you for any reduction in your revenue following an insurance event, such as fire, water damage etc.
Cashflow is the lifeblood of any business, so this type of insurance is essential. It helps to ensure all monthly commitments can be met including loan repayments, leases, rent, subscriptions & wages to list some of the more common expenses most businesses face.
The impact of an insurance event can seriously impact your revenue an extensive period, longer than twelve months, so there are options available to extend the benefit period to ensure your business recovers from potential catastrophe.
Some of the examples when Business Interruption Insurance can help are with the cost of renting alternative premises, hiring temporary equipment can also be included whilst your property is repaired &/or equipment is being replaced.
