How much is enough?
When it comes to your business, you can’t afford to take chances.
Save you thought about what would happen if your business was seriously damaged or destroyed by a catastrophe, such as a fire, hail storm or cyclone?
Your business insurance may cover the costs of rebuilding your premises but what about your lost income? Can you afford to lose customers or pay wages and other running costs until you can trade again?
That’s where Business Interruption Insurance comes in.
It is designed to cover the business owner for the trading income that’s lost if the business is temporarily unable to operate following an insured event. It provides you with the assurance that you can get back on your feet again.
Consider these statistics. Of those businesses that do suffer a major loss and do not have business interruption insurance:
Other factors to consider when insuring for business interruption insurance include:
Calculating your sum insured
When calculating your sum insured we recommend you talk to an AMP General Insurance Adviser. You could find yourself paying unnecessary premiums because the sum insured has been fixed too high, or you are underinsuring and will not be adequately covered.
You need the assurance that your insurance is right for you.
* Australian Bureau of Statistics