Business Property Insurance Claims

Property Insurance Claims arise for many reasons. Immediate thoughts perhaps go to fire damage, theft and flood damage claims. Along with these, property owners may need to claim for other costs, here is an example:

Business Interruption

As a result of a fire at a manufacturing company, it moved temporarily to alternative premises to continue trading rather than risk losing its customers to its competitors.  The additional costs incurred in the move such as higher rent, additional wages and removal costs were paid for by the insurer as part of the business interruption claim.

Business interruption is a key part of an office insurance policy, providing cover if damage to your property caused by insured perils, such as fire or flood, interrupt your business activity or you have to take additional steps to enable it to continue to run.

Your business insurance is not just about covering the damage to your office or factory, it’s about covering the other losses or additional costs your business may incur as a result of such as a fire or theft.

Contact your local insurance broker if you want to discuss this further and get free advice on your specific insurance needs.

This is only an example.  The circumstances of the claim many vary and is subject to the terms and conditions of the policy wording.

Last reviewed 01/2010

To talk to an expert in your area and get a quote, contact your local insurance broker.