Do Your Insurance Policy Cover For Business Interruption?

Business Interruption Claims Help – Does Your Insurance Policy Cover You?

In these troubling and worrying times, now more than ever, people are looking for help with business interruption claims.

Many businesses across the UK overlook business interruption insurance. This is because either because they simply don’t know about it. They believe they are already covered for business interruption in their insurance policy.

However, while building insurance and will put right any initial damage. Your insurer will not give you any compensation for your loss of income. To be covered for business interruption, sometimes you must take out a whole separate policy.

Calculating Business Interruption

Help With Business Interuption ClaimsWhen your business is shut down due to disastrous circumstances such as a fire or flood, you lose revenue. In addition to this, your business is will still have to pay its bills. To add to this, you may incur additional expenses as a result of the interruption.

This is why business interruption insurance is vital for some businesses. Having an insurer cover your income whilst you can’t work can save your business from permanent closure. Business interruption claims are some of the most complicated claims in the industry. They require complex calculations to accurately determine your loss of income. You will then need to prove this to your insurer by gathering as much as evidence to support your claim.

Are you covered for any revenue lost during closure? This may include any fixed expenses such as water and electricity bill and even expenses of renting temporary premises. Your policy may even have extra cover, which sometimes include advertising for your new temporary location.

When determining your businesses loss your insurer will consider past tax returns, profit and loss statements. Projected sales and non-continuing expenses such as employee wages will also need including.

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Public Loss Adjusters

BI Claim HelpWhile business interruption insurance can help your business survive a disaster, there are limitations and exceptions to this type of coverage.

If you obtain business interruption coverage as part of a commercial property policy. The coverage will only extend to events detailed in your policy. What happens if your property insurance does not cover storm damage? You cannot make business interruption claim if your company closed down because of a storm!

Managing business interruption claims are very complicated. Appointing an independent loss adjuster such as Public Loss Adjusters will help. They are one of the largest independent loss adjusting firms that operate nationally.

They can support your claim and make sure you have the same level of experience that your insurer has. Public Loss Adjusters have 72 combined years of experience in loss adjusting. They can make sure you receive everything your entitled to. Call 08000 434 999 to call Public Loss Adjusters and see how they can help your claim.