Bodyshop Insurance
Business Interruption Insurance
In this current economic climate business insurance is usually one of the last things to be considered for culling, this is certainly a good thing. Business may be tight and money a little scarce, even so when reviewing your covers its all to easy to consider moving the odd section and adding it back in when times are good, removing certain sections of your business insurance could spell disaster for your business. The strange thing is when times become hard and insurance is high on the agenda we see removal of business interruption insurance as being a good one. Our advice… DO NOT UNDER ANY CIRCUMSTANCES REMOVE BUSINESS INTERRUPTION INSURANCE.
There are certain sections of your insurance, that due to your working practices could be safely removed from your business insurance policy. For the small business, business interruption is generally misunderstood, which is why this cover is usually the first to go.
Business Interruption insurance is designed to put you back in the position you where in directly prior to the loss occuring. Under almost every policy, business interruption will only respond following a material damage loss - thats storm, flood, theft, fire and all the other perils on your insurance policy.
As the cover is misunderstood it is all to easy to remove it, particularly for the smaller business. All we would say is if you don’t understand the cover then get someone who does - your insurance advisor or the Real Automotive team to explain. Real Automotive understands your Motor Trade insurance requirements.
Finally if an advisor is suggesting that business interruption is removed to save money on premiums then seek alternative advice - no one should be advising you to delete this cover.
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