What is Business Interruption Insurance?

Business Interruption (also known as Business Income Insurance) is a form of insurance designed to financially protect your business from loss of profit or increased operating costs caused by an insured event, including catastrophic events or natural disasters.

What does Business Interruption Insurance cover?

Business interruption insurance safeguards the future of your business from interruption to your cash flow. It helps to keep your business operating, meet its obligations, and, most importantly, protect your capacity to continue making money while recovering and rebuilding.

The insurance is designed to help cover the ongoing expenses and operating costs of your business, including:

  • Loss of profit from any sales you would have made while not operating
  • Operating expenses
  • Cash flow
  • Employees’ wages
  • Rent
  • Electricity
  • Suppliers
  • Loan repayments
  • Relocation
  • Replacement of machinery

In some cases, the insurance also covers indirect events that impact your business rather than the insured’s property, such as civil authority, government-mandated road closure, bridges and railways, and damage to surrounding properties.

Working with an Insurance Broker and Risk Adviser will protect your business and ensure you have the right insurance cover in place.

Austbrokers can offer you trusted insurance advice to all your insurance needs, guidance, and long term support. Find out how Austbrokers can help you today!

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