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Crystal’s Flower Shop was flooded after a big storm. The coolers, the stock, customer orders, everything.
Fortunately, part of her operating costs went toward Commercial Property Insurance, so she made a claim and soon got a check to rebuild.
Not quite. Ordering new equipment and stock, plus all the rebuilding work, was estimated to take around 3 months. During that time Crystal would still have to support her family and pay all her personal and business expenses.
With what money?
Unfortunately, Crystal’s decision not to add Business Interruption to her Commercial Property insurance left her without cover for this unexpected ‘interruption’ in her only source of income.
She could also have considered Extra Expense Coverage, which would have let her set up in a temporary location to keep the business ticking over while her shop was being rebuilt.
Beacon’s Business Interruption Insurance and Extra Expense Coverage are definitely useful add-ons to your Commercial Property policy.
You’d be covered for:
Find out more about this important business protection by contacting our Team.
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We’re always here for you.