Safeguard your business with business interruption insurance in Perth, Sydney, Melbourne, and Brisbane. This insurance covers the loss of income following an unexpected event that disrupts business operations. In Australia, around 40% of businesses fail to reopen after a disaster, making this coverage essential.
Business interruption insurance compensates for the income lost during the period when business operations are halted. This ensures you can cover ongoing expenses like rent, salaries, and utilities. According to the Insurance Council of Australia, the average claim for business interruption is around $100,000.
This coverage helps with additional costs incurred to continue operations during the interruption. These costs may include renting temporary equipment or relocating to a temporary location. Without this coverage, businesses might struggle to manage unexpected expenses.
This type of coverage applies when the disruption is due to damage at a supplier or customer’s premises. It ensures that your business is protected even if the interruption is not directly at your location. In industries heavily reliant on suppliers, this coverage is crucial.
Business interruption insurance covers fixed operating costs based on historical expenses. This includes rent, utilities, and payroll. Ensuring these costs are covered helps stabilize your business during recovery.
The policy also covers the profits that would have been earned based on previous financial records. This helps maintain financial stability during the interruption.
If your business needs to relocate temporarily, the insurance covers the associated costs. This includes moving expenses and rent for the new location, ensuring continuity.
To retain your workforce, the policy covers employee wages during the downtime. This prevents the loss of skilled employees and ensures a smooth transition when operations resume.
Australia is prone to natural disasters such as bushfires and floods. Business interruption insurance is vital for disaster recovery. In 2020, insured losses from natural disasters totalled $5.4 billion in Australia.
The COVID-19 pandemic highlighted the importance of business interruption insurance. Many businesses faced significant financial losses due to lockdowns and operational restrictions. Having this coverage helps mitigate such impacts.
Maintaining economic stability during interruptions is crucial. Business interruption insurance provides financial support, ensuring businesses can survive and recover from unexpected events. According to the Australian Bureau of Statistics, business survival rates increase with proper risk management and insurance coverage.
BAU Risk Services offers expert advice and tailored business interruption insurance solutions. With extensive experience in the Australian market, we understand local risks and provide comprehensive coverage options.
Our team provides personalized service to ensure your policy meets your specific needs. We work closely with you to understand your business and the unique risks it faces.
We are committed to efficient claims handling. Our dedicated team ensures claims are processed swiftly, minimizing disruption to your business operations.
BAU Risk Services offers competitive pricing for business interruption insurance without compromising on coverage quality. We aim to provide affordable solutions that offer maximum protection for your business.
For comprehensive business interruption insurance in Perth, Sydney, Melbourne, and Brisbane, contact BAU Risk Services today. Get a quote now to protect your business from unexpected disruptions.
Understanding the claim process is crucial. At BAU Risk Services, we ensure a smooth and efficient claim experience. From the moment you report a loss, our dedicated team guides you through every step. We aim to process claims swiftly, minimizing stress and disruption to your business.
Keeping your business covered, so you can keep business as usual.
BAU Risk Services Pty Ltd is a Corporate Authorised Representative (CAR No. 001308013) of Apollo Risk Services Pty Ltd AFSL 403727 and provides General Insurance and Risk Management Services to their Australia wide clientele.