BUSINESS INTERRUPTION also known as Loss of Profits, or Consequential Loss
The Business Interruption policy can insure the project company for loss of Net Profit and Standing Charges until such time as normal production or commercial operation is resumed. The Indemnity Period typically ranges from 3 to 18 months depending on the nature of the operations. Insured perils follow the Fire or Property All Risks policy, and there has to have been an accepted property damage claim for the associated business interruption claim to be valid
Interested In Priority Insurance's Business Interruption Insurance ? Get A quote Now !
Have You Also Tried Any of Our Insurance Policies Below ?
Motor Insurance
Loss of or damage to any vehicle described
get a quoteFire Insurance
A basic Fire policy insures damage to tangible
get a quoteBonds Insurance
The policy covers losses resulting from sudden and
get a quoteGoods In Transit Insurance
Goods In Transit Insurance - Loss of or
get a quoteNatural events such as floods, lightning or even fire can happen unexpectedly
Your factory may have to be shut down after a blaze or some of your equipment may be faulty after being struck by lightning.
Our business interruption insurance will pay your business for income lost should your operations be interrupted by the events listed in our fire damage policy. These could be fire, lightning and allied perils such as floods, impacts, explosions, earthquakes, windstorms, riots, strikes and civil commotion.
Get financially covered against this loss of income so that if something unexpected happens, your business won’t suffer cash flow issues . Fill Form Below and An Expert will Get In Touch
546+ Reviews on this Policy from our Clients
Already member? SIGN IN
Business Interruption Insurance is a type of insurance coverage that helps protect businesses from financial losses resulting from disruptions or interruptions to their normal operations due to unforeseen events such as fire, natural disasters, or other covered perils. It is essential for businesses to safeguard against the financial impact of unexpected disruptions that could threaten their continuity and profitability..
Business Interruption Insurance typically covers the loss of income or revenue that a business experiences as a result of a covered peril, such as fire, flood, storm damage, or other insured events. It may also cover additional expenses incurred by the business to minimize the impact of the interruption, such as temporary relocation costs or expenses related to resuming operations.
The coverage period for Business Interruption Insurance typically begins from the date of the covered event that triggers the interruption and continues until the business is able to resume its normal operations, up to the policy's specified limit or maximum indemnity period. The indemnity period is usually determined based on the time it takes for the business to recover and restore its operations to pre-loss levels
The premium for Business Interruption Insurance is determined based on several factors, including the type of business, its industry, size, location, revenue, historical financial performance, risk exposure, and the selected coverage limits and deductible. Insurers may also consider the business's continuity planning and risk management measures.
The coverage for pandemics or infectious diseases may vary depending on the specific terms and conditions of the policy. Some Business Interruption Insurance policies may include coverage for certain types of diseases or pandemics, while others may exclude such events. It is essential for businesses to review their policies carefully and consult with their insurance providers to understand the extent of coverage available.
Yes, Business Interruption Insurance can often be bundled with other types of insurance coverage, such as property insurance, liability insurance, or cyber insurance, to create a comprehensive risk management strategy tailored to the needs of the business. Bundling coverage may offer cost savings and convenience for businesses seeking multiple forms of protection.
In the event of a covered loss or interruption, notify your insurance provider promptly and provide documentation to support your claim, including financial records, profit and loss statements, payroll records, and any other relevant documentation. Your insurance provider will guide you through the claims process and assess the extent of coverage available under your policy.
Need any help!
Get your Instant Business Interruption Insurance From "Nhyira" via WhatsApp Now!
Licensed & Regulated by
