One of the biggest concerns any business owner has is their ability to continue in business after a large loss.
Property, contents and stock damage or loss may prevent you from providing products or services to your customers. They may go elsewhere and never return. Every day you are unable to operate is a day of lost income for your business. Meanwhile your expenses such as wages, rent and loans, will need to be paid. That’s where good business insurances comes into the frame.
Business interruption insurance covers the loss of income that a business suffers after a disaster. This can include a business facility or outlet closing or the time to rebuild after a disaster. It is really business disruption insurance.
It is different to contents insurance. Contents insurance covers the physical damage to premises, your fitout and stock.
Business interruption insurance or business income insurance provides cover for a reduction in your revenue as a result of damage to your property. This includes lost profits. The damage to property must be an insured event.
It can also cover extra costs for business relocation. It is designed to put your business in the same financial position it would have been in if no loss had occurred.
It is added to a business contents insurance cover and not sold as stand alone business interruption cover. It only pays claims if the cause of the loss is covered by the business material damage policy.
Our business interruption product covers a shortfall in gross profit due to a drop in revenue. It also cover the cost of engaging an accountant or other professional to prepare your claim.
Additional costs to resume your business are a feature of this product. These increased costs can include re-writing valuable papers and records, relocation and temporary equipment to operate replacement premises.
You can chose cover for up to 12 months of business interruption, up to 18 months and up to 24 months.
Small business owners can purchase additional cover for natural disaster for an extra premium. Natural disaster insurance includes earthquake, volcanic eruption, geothermal activity and tsunami.
Insure Online is a registered insurance broker who specialises in insurance for businesses and we provide insurance solutions. Before you get an insurance broking quote please read the policy wording for terms and conditions of cover. It explains what limit of indemnity, insurance options and exclusions apply.
You will want to get the best small business insurance quote online from any insurance brokers NZ has available. Please check that this product is suitable for you.
You can add public liability insurance cover and statutory liability insurance NZ to your policy. You can read more in our newsroom and blogs. We have written a great article on why small business insurance may be the best investment your business can make.
Insure Online specialises in insurances for businesses. Try us if you need a business interruption insurance quote NZ wide or insurance for small business anywhere in New Zealand. Our business insurance NZ is online. We are able to provide insurance broking quotes quickly.
By getting an insurance quote online, you will find we are easier to transact with. We do it easier than most Auckland insurance brokers, Hamilton insurance brokers and Christchurch insurance brokers. Our insurance for business is underwritten by QBE Insurance NZ.
If you need great NZ insurance for a business big or small, business insure it with fast insurance quotes online from the best insurance brokers Christchurch and New Zealand has available.
We also provide legal liability cover. For more information on business insurances and business income insurance, please download and read the policy wording. It contains details about the terms and conditions for this product. Then head straight to get an online insurance quote and buy now.
If you would like to read more on small business insurances, read our article on business interruption insurance demystified.