What is Business Interruption Insurance?

What is business interruption insurance?

Business interruption insurance is designed to protect your businesses against the financial loss suffered as the result of a property claim.

Business interruption covers the income your business would have received had the incident not occurred. For businesses affected by fires, floods and other similar incidents, business interruption insurance can mean the difference between ensuring a long-term future and going under.

Who needs business interruption insurance?

If substantial damage caused to your business premises would affect your ability to trade then you probably need this cover. For example in the case of a fire or a flood it could take months or even years to restore your barbershop to its former glory. This would affect your ability to trade for any sustained period of time.

What things does business interruption insurance cover?

The two most common causes of business interruption claims are fires and floods. However business interruption cover protects your businesses from any property related incident that affects your ability to trade, so other causes for a claim may include burst pipes, storm damage, theft and vandalism.

Am I covered for this already?

It would be natural to assume that your buildings or contents cover will cover loss if income following a disaster, however these insurances make no allowance for any consequential financial losses sustained. This is why BarberSure include business interruption cover on all our barbershop policies as standard.

How long am I covered for?

We automatically provide business interruption cover on our barbershop policies for up to two years following a major incident.  You may wish to increase this cover period further if you have a listed property or a property of non-standard construction.

If you wish to discuss this or any other matter, please do not hesitate to contact us on 0300 303 4101