Business Interruption and Contingency Planning

Here at Imperial Claims Consultants Ltd, we often deal with fires within the home.

However, we also assist commercial customers with their property based insurance claims also.

Is your business prepared?

If your business premises, fixtures, machinery and stock were lost due to fire or flood etc, do you have a contingency plan and the correct insurance cover to cope financially until you can be fully operational again?

Having good levels of Business Interruption cover could mean the difference between losing everything and having the funds to get through the period of time any insurance claim would take to replace the stock and repair your building, including having money to cover your staff’s wages and other gross profit expenses Business Interruption cover will also help with any additional costs that you incur to keep your business trading following a loss, such as any additional rent for taking temporary premises.

Businesses should always ensure that you have adequate cover in place, including-:

  • Your building, fixtures and fittings
  • Your stock and machinery
  • Business Interruption / Loss of Licence
  • Business legal protection
  • Public Liability
  • Employees Liability
  • IT devices such as phones and laptops
  • Tools

Always discuss with your broker the full cover of any policy you are buying. It is also good forward planning to have a business continuity plan should disaster strike.

Here is some great advice from Tyne and Wear Fire and Rescue on having and implementing such a plan.

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