Business income insurance protects your business profits and expenses due to consequential loss caused by accidental perils or disasters while your business is suspended.

Typical coverages are:

– Profits that would have been earned

Fixed Expenses
– Operating expenses and other costs still being incurred by the owned or rented property.

Temporary Location
– Some policies cover the extra expenses for moving to, and operating from, a temporary location

Extra Expenses
– Getting Extra Expenses Insurance is an ideal option if your business is service oriented. It would compensate additional costs incurred by moving to a temporary location, installing replacement equipment including necessary advertisement in order to get your business immediately operating after a loss.

This coverage can be helpful when:
-Fire, flood or other natural disaster at your business
-Failure of public utilities
-Denial of access due to damages to neighbouring premises

Sometimes consequential loss can be greater than physical loss to your property. Business Income Insurance is designed to get your business back on track without financial burden.

Types of Business Interruption coverage

“Gross earning form”

Business Income insurance with “Gross earning form” pays out the reduction in gross earnings until property insured is restored replaced or repaired in certain period.

“Profits form”

continues to pay profits until insured property and business profit are restored to pre-loss levels until the policy limit.

“Actual loss sustained”

covers up to the amount insured sustain a business income loss due to covered perils.

Who needs Business Interruption Insurance?

If your business operation relies on certain equipment or location, you may consider purchasing Business Income Insurance.

Please call us or email us for consultation.