Business Interruption insurance for charities
How long would it take to replace your charity's building, if it were damaged?
Whilst building insurance will pay to restore your building, this rebuilding can take time. As part of your Business Continuity Planning, you may need to consider adding Business Interruption Cover to provide wider protection to your standard building cover. This would help cover the shortfall in income and pay any increased running costs, while you get your building back up and running.
Business interruption insurance
Business interruption cover can protect your charity, when it cannot continue its business activities because the premises has been badly affected due to an incident such as flooding, fire and other incidents rendering the premises unsuitable or unsafe for use.
If you are unable to use your charity’s buildings, a Business interruption insurance can cover
- loss of rental income received or payable,
- loss of general income,
- increased costs of working, such as hiring alternative premises.
- loss of gross profit (for Community Interest Companies).
This could be a loss or damage to your charity’s property or the denial of access to the property.
* subject to policy terms and conditions