When a disaster strikes, many company owners know to hold a business insurance policy to help cover the costs of repairs and replacement.

However, the interruption to trading following a fire or loss-causing event can have a more serious impact than just the damage itself.

When a major event occurs, your business may be unable to operate at its full capacity, yet the regular expenses for running your organisation will continue to roll in.

Mortgage repayments, salaries and utility costs are just some of the expenses you may find yourself burdened with, even after the business has closed its doors and is no longer bringing in money.

If you do not have a significant safety net, you may find the doors closed on your business for good if you cannot meet these financial obligations. However, with business interruption insurance you can focus on repairing and reopening your organisation, rather than the stress of ongoing payments.

Business interruption insurance will typically cover your fixed costs that you may not be able to pay if you are forced to halt turnover. This includes the wages of the staff you are hoping to retain, the rent or mortgage repayments on your property and can also incorporate other loan payments you may be responsible for.

It is crucial for any business, regardless of the industry you work in, to ensure that business interruption cover is included in your complete insurance package. Covering the financial burden while the doors are closed is an important measure for business durability.

The interruption of business turnover can have serious financial consequences, but with business interruption cover, you can reduce the stress and focus on returning your organisation to its profitable state.

For more information on business interruption insurance, get in touch with MGA Insurance Brokers today.