Business interruption insurance
Business interruption insurance covers a company’s lost income and fixed costs if operations have to stop fully or partly after a covered event, such as a fire, water damage or a break-in. It helps the business keep paying rent, salaries and other running costs while the damage is repaired. It is usually taken out alongside contents or building insurance.
Examples
A bakery has to close for six weeks after an oven fire. The business interruption insurance covers rent and wages while the shop is closed.