Business interruption insurance explained
Business interruption insurance covers lost income and extra costs if you cannot trade after an insured event, such as a fire or flood at your premises. It is usually added to a property policy.
Linked to physical damage
It usually only pays when the closure follows insured damage, not for any loss of trade.
The indemnity period
Choose how long you would need to fully recover. Rebuilding and winning customers back often takes longer than expected.
Gross profit, not turnover
Cover is usually based on gross profit. Ask your accountant for the right figure.
Extra costs
Temporary premises or equipment hire can also be covered.
- Gross profit sum insured
- Length of indemnity period
- Type of business and premises
- Risk of fire or flood
- Your latest accounts
- An estimate of recovery time
- Key suppliers and customers
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General guidance only. Cover depends on policy terms, conditions and exclusions.