Call our team +44 (0) 207 566 3939

BLOG

Do I need business interruption insurance?

Business Interruption Insurance

To avoid any shortcomings for your business, it is a good idea to opt for business interruption insurance. This is the best step your company can take, to ensure that there are no losses incurred due to an interrupted business.

By getting covered under business interruption insurance, one can ensure that their business would not face any losses due to an abrupt interruption and they would be able to get the business back on track with much ease. This is mainly because the incapability to generate revenues when the business is subject to damage would be covered by the insurance. Business Interruption Insurance can be procured as an additional extra to the existing business insurance package.

When can I raise a claim?

When your business is subject to any of the above mentioned conditions, you are liable to claim a compensation fee. Based on the below mentioned factors, you may raise a claim with the insurance provider when you are not able to generate sufficient revenues.
a)
The margin between the estimated and actual profits, which occurs due to a business interruption.
b)
Reduced income due to high operating costs, such as temporary relocation, procuring goods at higher prices due to various factors etc.
c)
Damage to the records of accounts of customers due to which you are unable to recover revenues from them.

When you raise a claim, the payment is made subject to the policy constraints. By opting for business insurance, you would be free from losses when your business is interrupted. Moreover, the chain reaction would be avoided due to which a business slips to losses and is unable to raise funds.

Also, in events of shortcomings or interruptions, your business would be able to bounce back and resume with the business. However, it is best recommended that you understand the scope and limitations of the policy precisely before opting for one.

Your Virtual Office London have helped thousands of small businesses progress to become successful enterprises. If you would like to discuss how we can help you please contact the team today.

Related Category Posts

Is a Virtual Office Right for Your Business?

Is a Virtual Office Right for Your Business?

Is a Virtual Office Right for Your Business? In this modern digital age, is it time to ditch the idea of a traditional office structure? Many new start-ups are adopting the 'lean' method of operation where they only use the bare bones of a company structure to...

read more
How To Become Mega-Productive with your Work Time

How To Become Mega-Productive with your Work Time

How To Become Mega-Productive with your Work Time PRODUCTIVITY. This has to be one of the most talked-about buzz-words of the 21st Century. There seems to always be a steady stream of great productivity strategies out there that people simply cannot get enough of....

read more
Top Tips For eBay and Amazon Online Sellers

Top Tips For eBay and Amazon Online Sellers

Top Tips For eBay and Amazon Online Sellers There is no denying that the invention of the internet has changed the face of work for the better. No longer do people need to be an employee and have to commute to a place of work every day to earn their living. Being a...

read more

Capital Office Ltd is registered in England and Wales: Registered Address: Kemp House 152 – 160 City Road London EC1V 2NX

Company Number: 06294297 | VAT No: 976201416 | ICO No: ZA084808 | Anti-money laundering registration number: XZML00000125126

© Copyright 2019 Capital Office Ltd - All Rights Reserved

Please click here to view the latest businesses using our address without authorisation.