Your business suffers a fire. The doors are shut for several months.
It takes another year or three before the business fully recovers.
The building, contents and stock may be insured, but what are you going to do about you revenue, livelihood of your business and your employees?
During the time when the business is closed and is cannot fully operate, customers may be forced to go to a competitor for service or supply.
Your overheads will continue such as loan repayments, salaries, wages and fixed expenses.
With no cash flow coming in, it can be difficult to continue with your business.
We will work with you to provide a balanced coverage based on the understanding of knowing business Income, Wages, Working expenses as well as to consider an Indemnity period (eg; 12, 18, 24 months), which is the time between when a Loss occurs to when your business fully recovers.
Type of Cover
Revenue/income Income that would have been earned during the period the business cannot operate
Fixed costs Operating expenses and other costs still being incurred by the property (based on historical costs)
Temporary relocation Temporary relocation The extra expenses for moving to, and operating from, a temporary location
Extra expenses Reimbursement for reasonable expenses (beyond the fixed costs) that allow the business to continue operating while the property is being repaired.
Reimbursement for reasonable expenses (beyond the fixed costs) that allow the business to continue operating while the property is being repaired.
Civil authority ingress/egress Government-mandated closure of business premises that directly causes loss of revenue such as street closures.