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Business interruption insurance can help your business to keep running if the insured property is lost or damaged after a catastrophic event such as fire, by covering ongoing costs so you can recover and rebuild.
Get the right advice at the right price and have a local Steadfast broker on your team.
Bills keep coming, staff need paying
Linda is the owner of a small office supplies business – with eight staff on the payroll and numerous suppliers.
Late one night, the restaurant next door catches fire and it spreads to her business premises – destroying the property along with the stock and IT systems. She’s unable to open the shop for weeks while the building is being repaired. Because the business isn’t operating, she’s not making any money – meanwhile the bills are piling up.
But with business interruption insurance, Linda banks an insurance payment, maintaining her cash flow at
pre-interruption level. Linda can continue paying her staff their regular wages, so they keep their jobs, and rents a temporary location so the store can keep running.