Heavy Storms Cause Problems With Electric Power Leaving Homes With No Power

Electrical engineers and services are trying to repair the damage caused by storms with winds in some regions reaching up to 100 mph.

In Scotland over 30,000 homes and businesses are without any electricity. The met office has issued warning of rain and high winds in Wales Scotland and the North of England.

There has been delays on trains and the roads with trees and floods blocking roads.. Many properties with damaged roofs and water flood will be putting in claims to insurance companies on their Public Liabilities and Home and Office Insurance policies, claims are expected to run into millions.

Business Interruption Insurance

If a customer came to me for advice on their insurance I would recommend Business Interruption cover as one of the covers they should buy so in the event of a loss their profit or revenue would be protected until the business was fully operational.
Any immediate costs to ensure the business was able to continue operating possibly at another location could also be covered by the Business Interruption insurance

Many of the extensions offered under Business Interruption insurers are of great benefit such as denial of access, loss of utilities, loss of attraction among others

5 reasons to purchase Business Interruption insurance:

1. Protecting your profit or revenue
2. Covering costs of relocating until your premises can be reoccupied
3. Covering book debts
4. Protecting any specialist equipment
5. Continuity of your business from your clients perspective

There is going to be a push from the government soon to encourage businesses to take up business continuity insurance, particularly SMEs, and to make it quicker and easier for businesses to cover themselves against business interruption.

If you need any advice or have any questions regarding business interruption insurance then contact Professional Insurance Agents, where a professional broker will be happy to help.