Do I need Business Income Insurance?

To answer that question, you need to ask yourself another: could your business survive and overcome a crisis? If your premises were damaged, for instance, and you were unable to trade, could you cope financially?

Damage and disasters – whether accidental, natural or criminal– can be devastating for businesses. Many simply don’t have the resources available to carry on trading, which means loss of income and, in the most extreme cases, closure. If you find your business becomes the victim of a crisis that leaves you unable to trade, Business Income Insurance is there to help you through the financial side of things, and to help you get back up and running.

Why choose Us for Business Income Insurance?

Up to £1million protection

Up to £1million protection can be available over a 3 year period.

UK

24/7 legal and tax helpline

We’re on hand to help you through every step of the process with confidential support available around the clock.

Simple claims

Need to make a claim? With OceanHawk Insurance LLP it’s quick, easy, and straightforward – and all dealt with by our UK claims centre.

What’s included

  1. Cover for ongoing operating costs and additional expenses if you have to move to alternative premises or hire extra staff because of circumstances beyond your control
  2. Cover if you lose trade as a result of your suppliers’ premises being damaged
  3. Protection for loss of money owed to you due to damage to or theft of your accounts records
  4. Cover if your electric, gas, water or telecommunications supply is disrupted and stops you from carrying out your business
  5. Cover for any expenses required to limit loss of income if the owner, partner or director dies or becomes permanently disabled
  6. Payment of costs you incur due to an employee lottery win 

What’s not included

  1. Losses excluded under your tools, stock and business equipment or buildings and contents cover will also be excluded under your Business Income Insurance
  2. Erasure or distortion of data isn’t covered by your Business Income Insurance unless caused by damage to your computer equipment; you’re also not covered if your business is wound up, or is carried on by a liquidator or receiver, or is permanently discontinued
  3. No cover for forced closure as a result of specified disease, food poisoning, vermin, pests or defective sanitation – any costs incurred in cleaning, repair, replacement, recall or checking of property
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