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Bespoke Insurance Group

B-03Business

Business Interruptioninsurance.

Cover for lost income while you recover from an insured event.

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B-03 · Elevation

01 · The exposure

Rebuilding the premises is half of recovery. Income is the other half.

After a fire or storm, the damage you can see is often not the most expensive part. Business interruption insurance is designed to cover the loss of gross profit and increased costs of working while the business recovers from damage covered under a property policy.

02Scope

What this covercan respond to.

A general guide. What a particular policy covers depends on its wording, limits, conditions and exclusions, and on what is declared to the insurer.

  1. 01Loss of gross profit or revenue following insured damage
  2. 02Increased costs of working, such as temporary premises or overtime
  3. 03Ongoing expenses such as wages and rent during the indemnity period
  4. 04Extensions for damage at suppliers’ or customers’ premises, where included
Often discussed byManufacturersHospitality venuesRetailersAny business reliant on one location

03What we look at

Where the detailmatters.

  • Indemnity period

    Twelve months can be too short. Realistic recovery, including rebuilding, re-equipping and winning customers back, is often longer.

  • How gross profit is defined

    Policy definitions of gross profit differ from your accountant’s. Declaring the wrong figure can lead to underinsurance.

  • Dependencies

    A key supplier or customer being shut down can interrupt your business even when your own premises are untouched.

04 · Before we talk

Questions yourbroker will ask.

Having these answers to hand makes the first conversation faster and the submission to insurers stronger.

Start a quote enquiry
  1. How long would it take to return to normal trading after a major loss?
  2. What is your annual turnover and what are your variable costs?
  3. Do you rely on one supplier, customer or location?
  4. Do you have a business continuity plan?

05 · Questions

Frequently asked.

Does business interruption cover pandemics or government shutdowns?

Most business interruption sections require physical damage covered under the policy. Shutdowns without damage are commonly excluded. We explain the exact triggers in your wording.

Related cover

Commonly part of programs for property & strata and small & medium business.

Talk business interruptionthrough with a broker.

A short conversation is usually the fastest way to know where you stand. No obligation, and no form required if you would rather call.

Speak to a brokerRequest a quote

Or call 1300 513 652, answered 24/7