Coverage for when you rely on other companies.

Sometimes it's not your business that closes down, but the one on which you rely. Contingent business interruption insurance, also known as dependent properties, protects your company if a covered loss damages non-owned property and reduces or eliminates your income. This protection can be extended to companies such as purchasers, suppliers, providers, and even drivers. For example, if a fire breaks out at a supplier and prevents critical goods from being delivered, your contingent business interruption insurance may cover the costs connected with that loss, including your lost income.

When you require more than just your daily expenses.

Assume a pipe burst in your office, making it difficult to work there, but you still need to work. Who pays for the additional costs of your temporary relocation? If you extend your business interruption policy with excess expense insurance, you may be able to cover charges that exceed your regular day-to-day expenses. This can include not just a temporary transfer to a new place of employment, but also hiring extra workers, paying your present staff overtime, and training your staff on new equipment. It's an excellent insurance policy to have in place in case of an emergency.

Your company may be doing well, but you are not receiving utilities.

Sometimes your business is forced to close down not because of physical damage to your property, but because you are unable to obtain the utilities required to operate. For example, if you do not have access to energy, you may be unable to operate your firm. Utility services coverage as part of your business interruption insurance may assist cover your company in the case of a shutdown due to a loss in utilities provided by public and private businesses such as gas, water, and electricity. This coverage may give protection for a certain period of time or until the utilities are restored, depending on the type of policy you have. In some cases, it may also cover direct harm to your business caused by a utility outage.

Are you looking for business interruption insurance for your company? Please contact us to explore your alternatives.