As a business owner, you are your own risk manager. Your primary responsibility to your business is to stay open and running no matter what life throws at you. Have you closely considered what your business would need in order to stay open should you have an unexpected event that has interrupted your normal operations? That's why you need business interruption insurance.
Business interruption insurance: ask yourself 'what if...'
What if a fire in your café destroyed your kitchen and you had to close for 2 months while repairs were made? Could your business survive? And could you pay staff or loans? A standard business package policy could cover the cost to repair the kitchen, while business interruption insurance could reimburse you for any lost income while your doors were closed.
Business interruption is one of the risks business owners may have a tendency to overlook if they think ‘it will never happen to me’.
In our experience, many businesses that incur a major loss are not able to resume trading because they don't have business interruption insurance to make up for lost income while their business is being restored. Some businesses may remain open for some time but under duress, losing customers and sales due to their inability to provide the same service they had prior to the claim. Again, ask yourself how your business would fare if it couldn't trade tomorrow.
Arthur J. Gallagher has helped thousands of businesses to put the right cover in place to protect their business should the unexpected happen. If you'd like that peace of mind, find an expert insurance broker near you now.