Understanding Business Interruption Insurance: Coverage, Benefits, and Protection

What is business interruption insurance?

It intervenes if businesses are hit hard. When an unexpected event occurs, such as a fire, your operations will be suspended, especially during a period of repair or reconstruction. The warranty will help you maintain your turnover by covering your costs at this difficult time.

How does business bankruptcy insurance work?

The operating loss compensates the company based on the financial losses recorded after a disaster covered by the contract. If your property is insured, fixed costs such as rent and salaries continue to accrue. You can also decide to incur other costs (temporary rental of a building or equipment) to limit the impact of the event. The guarantee then compensates for this interruption in work, and therefore income, while the company gets back on its feet.

Here is a list of risks that may be covered by business interruption insurance:

– Fires and electrical damage,

– Water damage. break the glass,

– Storms and fog,

– Theft and acts of vandalism, etc.

Protect yourself from the financial consequences of a business interruption caused by a disaster

Business insolvency insurance preserves the financial stability of your business in the event of a problem.

Financial loss coverage

The primary benefit of operating loss is still to cover financial loss in the event of a disaster. By maintaining your income during a period of suspension or bankruptcy of your company, this insurance will help you stay on track with your operations. It not only recovers the costs incurred by the glitch, but also takes into account the absence of the expected benefits. The compensation amount paid is based on the company’s gross margin. This can be adjusted depending on the expected growth and economic conditions.

Support for fixed costs

You are no longer able to work, it is very complicated to honor all the costs that are still weighing on your business. Business interruption insurance intervenes by paying back fixed costs during periods of inactivity. Here’s an overview of the costs that didn’t stop despite the crash:

The rents. Salaries of employees. Taxes. Interest on a loan. Emergency costs associated with restarting, such as temporary rental of equipment or building. Other possible invoices.

Our “all-in-one” insurance solution tailored to your professional needs

Take advantage of the flexibility of our operating loss contract.

Personal protection in the event of a disaster

At Foyer, we understand the challenges faced by the self-employed and SMEs in the event of a major disaster. With our “all-in-one” contract, personalize your coverage, as your responsibilities and expectations are not the same as those of your business neighbors. Depending on the uniqueness of your property, your property and the potential financial losses, our intervention will vary.

Assured continuity in your actions

Foyer’s business interruption protection compensates for the drop in your turnover and helps to quickly restart your business after a disaster. To facilitate the transition and guarantee the continuity of your company, we take care of the temporary rental of a building or equipment.

Don’t let a fire or other problem threaten the balance of your company and trust the experts at Foyer. They assess your needs to ensure the security of your transactions.

Request one today.