Business Interruption Insurance

You can choose business interruption insurance as an add-on to your professional indemnity insurance from Tapoly. This is insurance cover on your terms, not ours.

What is Business Interruption Insurance?

If your business has to close for a period of time, business interruption insurance will cover you for your downtime. This means that any unexpected incidents can become minor inconveniences rather than potentially devastating disasters.

Whether there's an issue with your supply chain, or you're somehow prevented from accessing your premises, business interruption insurance offers peace of mind that you'll be covered, no matter what happens.

What Does Business Interruption Insurance Cover?

Our business interruption insurance will cover you for the following as a result of your business having to close for a period of time:

• Loss of income - We will pay as close as possible to the estimated net profits that would have been expected had the business interruption event not occurred.
• Increased cost of working - We'll cover all costs and expenses incurred by your business to minimise your loss of income.
• Disruption or interruption of supplies - If your UK suppliers are compromised, we can cover you for any supplies that are necessary to run your business.
• Public utilities interruption - If the interruption lasts longer than 24 hours.
• Public authority incidents - If you're denied access to your premises for more than 24 hours, we'll cover you for any income lost during that time.
• Restrictions preventing you from using your premises - These can include injuries caused by food and drink consumed on your premises, or the presence of vermin or pests.
• Continuing hire charges - If you're legally required to pay those charges.

What Does Business Interruption Insurance Not Cover?

Business interruption insurance is intended to cover you for temporary setbacks. It will not cover you for business interruption if you're discontinued permanently, or if a liquidator or receiver is appointed. It does not cover pandemics.

Do I Need Business Interruption Insurance?

We believe that all businesses should consider business interruption insurance, as the sort of unexpected developments it covers can affect any business at any time. For larger businesses, an interruption in the supply chain, or a prolonged public utilities interruption, can prove costly and inconvenient. But for smaller businesses, any interruption to cashflow can be potentially devastating.

Would your business be able to survive a period of downtime? If you were temporarily prevented from using your business premises, would you be able to cover the increased costs of working? Business interruption insurance means you'll be covered, no matter what happens.

For total protection, we also advise you to choose buildings cover as an additional add-on to your insurance policy.

How Much Does Business Interruption Insurance Cost?

You can add business interruption insurance to your professional indemnity insurance policy from Tapoly. The cost, or “premium” for your business interruption insurance will depend on several factors, all depending on the specific nature and duration of the business interruption.