Business Interruption Insurance

Help to calculate the cover you need

Do You Have the Right Cover?

Use our business interruption calculator to find out if you have the right cover.

When it comes to protecting your business success, there can be much more to it than just insuring physical assets and protecting employees and members of the public.

Maintaining your business operations or having the cash flow to make payments for remedial work after a major incident all require the right level of business interruption insurance cover. This cover aims to return your business to the same trading position as if the incident or loss had not occurred.

According to the Chartered Institute of Loss Adjusters, 40% of businesses with business interruption policies are underinsured, which demonstrates just how difficult it can be to work out how much cover is needed and set the right sum insured.

While many businesses probably understand the need for business interruption insurance, the level of cover required to maintain their operations is commonly underestimated and can lead to problems associated with underinsurance.

Anthony Jones, in partnership with Zurich, can provide you with a business interruption calculation to help you avoid underinsurance. Working together, using the calculator tool, we can help to pinpoint the business accounting and operational factors that need to be considered in working out the right level of business interruption insurance cover.

While the calculator gives a guide rather than a definitive final figure, it will help you to assess the business interruption sum more accurately and avoid the risk of underinsurance.

If you do a business interruption insurance calculation with us either before or within three months of your policy starting, we will give you a 10% discount on your business interruption insurance premium. This discount is provided in recognition that your sum insured and subsequent premium may be higher than expected.

Underinsurance

Reasons for underinsurance often include:
 

  • The real cost of rebuilding a property against its market value.
  • The length of time it takes to get back up and running at pre loss levels. Supply chain issues, planning complications to reinstate buildings, environmental considerations, reliance on key suppliers or customers all eat quickly into time.
  • The costs of replacing plant and machinery costs. It’s important to keep up to speed with rising equipment costs as well as understanding the reality of delivery timescales for replacements. If it’s applicable, think carefully about exchange rate movements.
  • A shortage of labour.

Need more
information?

If you’d like to find out more about business interruption insurance please call Tom Cowap or the team on 020 8290 9080 who can give you all the advice and help you need. Alternatively, you can email us at business@anthonyjones.com

FAQ’s

Some of our most asked questions, answered below:

What is Business Interruption insurance?

Business Interruption insurance covers you for loss of income during a period of time when you are unable to trade because of an unexpected event, such as a flood or fire.

The aim of Business Interruption insurance is to put your business back in the position it was before the event happened and as though it didn’t happen in the first place.

Do I need Business Interruption cover?

Because Business Interruption cover isn’t protecting a physical business asset, this is often overlooked when businesses are thinking about what business insurance they need. However, depending on how long your business is unable to trade, this can be the most valuable insurance of all and can amount to quite a large pay out.

How much Business Interruption cover do I need?

The amount of cover you need will depend on a number of factors, including the size of your business, typical monthly turnover and how long you estimate it would take to get back up and running if you were impacted by an event such as a flood or fire.

It’s estimated that almost half of those businesses with Business Interruption insurance don’t have enough cover so our recommendation, as with other insurances, is to buy as much as you can afford.

We have access to a tool that enables us to calculate how much BI insurance your business might need so it’s worth having a conversation before you go ahead and buy it.

What indemnity period for Business Interruption Insurance do I need?

Business Interruption insurance is designed to put you into the financial position as if the claim had never happened. As such, the indemnity period needs to be long enough to get you back trading at the same level as if the loss had not occurred. Whilst property can be replaced or rebuilt relatively quickly, it may take much longer to recover the same level of sales and market share. Surveys have shown that most businesses do not have adequate indemnity periods. As a rough guide, we rarely recommend anything less than 24 months.

Reviews

 

Vanessa Mead
Vanessa Mead
10:00 17 Jan 24
Ed Tatham
Ed Tatham
15:09 11 Jan 24
wendy plant
wendy plant
10:10 01 Dec 23
I have been a client of Anthony Jones for 20+years. All the Advisors are experts in all areas of Insurance. The Advisors are very professional, helpful, cheerful, and caring. They make life easy when it comes to dealing with Insurance.
Leo G.
Leo G.
20:30 31 Oct 23
Best brokers !
Gail Proud
Gail Proud
21:39 10 Oct 23
Thank you for making insurance both Motor and Household stress free.
michael bentley
michael bentley
08:19 25 Sep 23
Very happy for many years, formerly dealing with Bob Chapman, Rose and Claire. Very friendly, very competitive quotes.
Colin Lee
Colin Lee
09:20 12 Sep 23
Joe and Mark are a credit to their profession. Thank you very much for your professionalism and the honest way that you conduct business.
Jed Lowe
Jed Lowe
16:06 07 Jul 23
…. Walked the extra mile including taking call on day off to sort out a mess caused by previous broker … can’t thank Bo and Tom enough ….
William Tracy
William Tracy
08:10 02 Jul 23
I have my Public Liability insurance with Anthony Jones. Tom Cowap normally deals with all my queries and renewal. I have found this company to be very helpful and polite and have dealt with my inquiries and renewal's quickly. Tom has always been really helpful.
Vapourlites Ltd
Vapourlites Ltd
13:43 11 May 23
Professional and efficient, first class service provided
Louise Burton
Louise Burton
13:46 21 Apr 23
I have worked with this company and Joe Penny for many years now and wouldn’t go anywhere else. Would Highly recommend Joe to anyone
lucy barham
lucy barham
09:09 21 Apr 23
Anthony Jones have have taken care of our commercial and fleet insurance needs for years. I have recently renewed our commercial & Liability insurance and trust that Joe Penny (account handler) understands our business and always strives to get the best rates and policy for us. I would highly recommend to anyone.
Ben Doughty
Ben Doughty
19:08 23 Oct 22
Steve @ Anthony Jones has been servicing our business for years and has always provided the best service I could ask for from a broker. Very responsive, great communication and a great company and individual to do business with. Does what is expected and more. Thanks
Louise Evans
Louise Evans
22:44 09 Aug 22
I use Anthony Jones Insurance Brokers annually for my home and contents policy. Sharon is always great to deal with, responsive, professional and found me a great deal. Really happy with my policy and will continue to use Anthony Jones in the future.
Amy LH
Amy LH
19:19 19 Jul 22
I have been a client of Anthony Jones for over 10 years as the broker for the buildings & associated insurances for our freehold property of 3 flats. For the last 6 years I have dealt with Tom Cowap who is always highly efficient, professional and easy to deal with. He really went above and beyond this year when he found the existing policy had stopped covering flood risk and that the alternatives offered a significant increase in premium on the previous year. He didn't involve me until he'd found policies which offered the right cover, but with a reasonable premium and it was genuinely surprising that he didn't try to sell me the more expensive option. I can't imagine wanting to move to a different broker in future because of this great service. Thanks Tom!
Stu Matson
Stu Matson
15:06 01 Jul 22
We have dealt with Tony and Steve for a few years now and are always so pleased with their service, patience and support in helping us get the insurance plans required for our outdoor events. I really couldn't recommend highly enough.
Arif Ali
Arif Ali
11:47 19 May 22
Bo has helped with the review and renewal of our Property Owners insurance for the last few years. I have found Bo very helpful and professional and would certainly recommend her to others. Kind regards.
Olga Bradley
Olga Bradley
16:28 11 Apr 22
Tom was very helpful, and very patient during the whole process of finding me a qoute for public Liability insurance. He helped make the whole process much easier for me. I would use his service again in the future.
Keith Rossiter
Keith Rossiter
18:42 28 Mar 22
Very efficient and friendly service. Competitive prices.
MODUS (MATL)
MODUS (MATL)
12:09 14 Mar 22
We have used Anthony Jones in excess of twenty five years. Always find them helpful and efficient, and they are able to get us the best costs for our insurance policies.
Brian Sealey
Brian Sealey
15:39 14 Feb 22
I dealt with a bloke called Joe Penny. From the minute we starting speaking he explained everything to me, explained all the ins and outs of the insurance. He made me feel at ease straight away. I would definitely recommend him if your looking for vape shop insurance. Cheers Joe will be back in touch when it’s time for renewal 👍
Paul Jackson
Paul Jackson
12:36 16 Nov 20
I wrote the following two years ago. Since then, I have continued to receive great service from the team at Anthony Jones - they are courteous & very effective, a pretty good combination for an insurance broker!"I chair a campaign to save our local pub. We launched a share sale and succeeded in buying the Crown a few days ago, so we needed help in selecting the right insurance for the site whilst renovations were under way, including unoccupied property cover. Tony Ellis of Anthony Jones Insurance was really helpful in guiding us through this process, and we now have the correct cover in place. Fast, easy to deal with & knowledgeable - just what you need from your insurance broker! Well done Tony and all at A Jones."
Irene Sauer
Irene Sauer
12:04 31 Aug 20
Excellent service.
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