Insurance is bought to ensure if the unexpected happens, there’s a solution to make things better. Imagine an accidental garage fire: All of your possessions are lost, but insurance is there to get your items back and repair the damage.

Now consider owning a business, where you not only have possessions but are responsible for the financial wellbeing of others. It’s nearly impossible for anyone to be able to handle that burden if the unexpected happens and you’re required make everything right again. Not only could you be facing damaged possessions and property, but the loss of income for you and others.

That’s why all business owners should seriously consider having business interruption coverage form part of their commercial property policy. Property policies and Business Interruption coverage goes hand in hand. In the event of a claim – one follows the other.

Property policies cover direct physical damage to insured property (think: equipment, machinery, office furniture, etc.) as the result of an insured peril (e.g. a fire).  Business interruption insurance provides coverage for the loss of income during downtime, and/or extra expenses a business takes on as a result of that direct physical loss to the insured property. That means a physical loss, resulting from an insured peril, must occur first in order for the business interruption coverage to apply.

Visit our Business Interruption page for types of insurance available and how you can get started by protecting your business today: