STAND 926
BACK TO BUSINESS AS USUAL It may have taken blood, sweat and tears to grow your business to where you are now, but what happens if one morning you turn up at your office, shop or other premises and realise that something is very seriously wrong? Maybe there’s been a fire, or perhaps the fire was next door and your premises have suffered smoke damage. Or maybe you’re ankle deep in water as you look up to a telling hole in the ceiling. You roll up your sleeves, start to clear up and hope your insurance provider will help you organise necessary repairs. But these things can take time and what happens to your business in the meantime? What if you can’t use your office
for several months, or you can’t open your shop to customers and they go elsewhere? What if you need to rent temporary premises, replenish stock, recover lost data – there could be a lot to think about. This is when you would be glad you took out Business Interruption insurance to protect your business, which is designed to cover the costs of getting you back to business as usual.
Do You Already Have
What Types Of Events
Business Interruption
Are Protected?
Insurance?
Most policies will cover business interruption as a result of:
Business interruption insurance can be included in some business insurance packages, or may be offered as an optional extra to buildings and contents insurance policies. Check that you’re covered, as many business owners forget that replacing their buildings and contents is only part of the answer to fully recuperating their business when something goes wrong.
•
•
Some policies will also cover business interruption if: • •
How Long Will The Cover Last? Typically, insurance will pay for these ‘interruption costs’ up to a period of 12, 18, 24 and 36 months. When choosing or checking your policy, it’s important to be realistic about the amount of time it will take to get you up and running again.
What Can You Claim For? If you make a claim, business interruption insurance will compensate you for any (pretax) shortfall in profits and any increased costs of running your business as a result of the event.
Damage caused to your premises or equipment by fire, storm or flooding The breakdown of essential equipment
People are not able to get into your business premises If the damage has occurred at the premises of a supplier or customer
Nobody wants to think about the worst case scenario, but having the right insurance is one to way to make sure that your business survives even if the worst does happen. If you require further information about this valuable cover, then please call me on the number shown below or come visit us on stand 926.
CONTACT Chris Mallett Aon New Business Manager 0845 769 7065
‘Aon UK Limited is authorised and regulated by the Financial Conduct Authority. Aon UK Limited Registered Office: 8 Devonshire Square, London EC2M 4PL. Registered No. 210725. VAT Registration No. 480 8401 48. FCA registration No. 310451. Telephone calls are recorded and may be monitored. FP8488.10.13’
160
| THE BUSINESS SHOW NOVEMBER 2013
IN PARTNERSHIP WITH