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Business Interruption Insurance

Protect your revenue flow. Stay afloat even in crisis times. With our expert guidance at Elliott Insurance Brokers, get access to comprehensive Business Interruption coverage, safeguarding Australian businesses from unexpected income loss.
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business interruption insurance explained

Business Interruption explained

Business Interruption Insurance, sometimes also referred to as loss of income insurance or business income insurance, is designed to protect the earning potential of a business in the event of a covered loss. This could include a natural disaster, significant property damage, or any other major event that disrupts normal business operations. It's not just about replacing lost income; it also covers operating expenses, like electricity and rent, that continue even when business activities come to a halt.


What does Business Interruption insurance typically cover?

Remember, policies may differ, and not every business interruption insurance covers all these aspects. Our team at Elliott Insurance Brokers will help you find the policy that best suits your business’s specific needs. Through our network of insurers, we can guide you towards Business Interruption Insurance that provides comprehensive coverage for:

.. This insurance covers the loss of any sales you would have made while your business is out of operation.
.. This includes expenses such as electricity and rent that must be paid regardless of revenue generation.
.. If you need to move to a temporary location, insurance can cover the moving and operational costs.
.. In the event of machinery replacement, this coverage can assist with the training costs for operators.
.. The insurance also covers business closure due to government-ordered street closures or curfews.
.. If a supplier's premises gets damaged which negatively affects your business operations, the insurance can cover the financial impact.
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Why Choose Us For Your Business Interruption Insurance Needs?

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Expert Guidance

Our team at Elliott Insurance Brokers comprises seasoned insurance professionals with a deep understanding of Business Interruption Insurance in Australia. They can help guide you towards the ideal coverage for your unique business circumstances.

Wide Range of Options

At Elliott Insurance Brokers, we have access to a wide range of insurance providers, allowing us to guide you towards comprehensive Business Interruption Insurance, providing broad protection against a range of potential income losses.

Customised Policies

At Elliott Insurance Brokers, we recognise that insurance isn't a one-size-fits-all solution. You'll receive guidance towards a custom policy, tailored to align with your specific business needs and risks, ensuring the utmost protection for your enterprise.

Exceptional Customer Support

Our commitment to delivering exceptional customer service sets us apart in the insurance sector. Whether you need assistance with your insurance quote, have a query about potential policies, or need support with claims, our dedicated team at Elliott Insurance Brokers is always on hand to help.

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How does a typical Business Interruption Claim Work?

.. A covered event—such as a fire, flood, or other insured disaster—causes physical damage to your business premises, rendering it unusable.
... As a result of the damage, you're unable to conduct business as usual. This leads to a loss of income that would have been earned had the event not occurred.
... You file a claim with the insurer, providing necessary documentation that outlines the extent of the damage, the impact on your business operations, and the resulting financial loss.
... Once your claim is approved, the insurance can cover your ongoing operating expenses and compensate for lost income until your business is back up and running.
... It's essential to note that Business Interruption Insurance doesn't cover all types of losses. It is usually tied to a commercial property insurance policy and only covers events that are covered by that policy. Plus, there can be exclusions and waiting periods.
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Frequently Asked Questions

Is Business Interruption Insurance mandatory?

While Business Interruption Insurance is not typically a legal requirement, it is highly recommended for any business, as it protects against unexpected income loss due to unforeseen circumstances.

What's not covered by Business Interruption Insurance?

While Business Interruption Insurance covers many aspects, it does not cover every risk. Each policy may have exclusions. Additionally, there is usually a deductible or excess and limits on cover. Our brokers can help you understand the specifics of each policy.

How much does Business Interruption Insurance cost?

The cost of Business Interruption Insurance varies depending on several factors, including the nature of your business, your claims history, the size of your business, and the level of risk associated with your business operations. At Elliott Insurance Brokers, we strive to guide you towards a policy that fits your budget and needs.

Does Business Interruption Insurance cover my employees' wages?

Yes, Business Interruption Insurance typically covers continuing expenses like staff wages, allowing you to keep your team employed even during a crisis. The specifics can vary by policy, and our team can help guide you to understand the coverage better.