Has your business routine been interrupted?
Business Interruption Claims
Building and contents insurance is vital for any business. However, there can be huge losses sustained during the period a business is unable to trade due to disaster.
In case of disasters such as fire or flood, business interruption insurance is a vital necessity and is often the determining factor between a business continuing to flourish or collapsing.
It is difficult to prove the loss of potential income a business will suffer following an incident because many external factors need to be considered. In addition to comparing the company’s history of performance, one also needs to examine changes in demand, competition, political and natural influences at the time etc., in order to evaluate as accurately as possible the correct business interruption figure.
Knights will provide you with an experienced loss assessor who will collect the relevant data, analyse the necessary information, and put together an all-inclusive insurance claim that will restore the losses you incurred while you were unable to operate.
How we can help
Insurance advice
We will scrutinise your policy to determine the full amount of compensation you're entitled to. We will then build a robust case and handle all proceedings on your behalf. Our claims handlers will assist with every step along the way, including guidance, advice and support.
Loss assessment
Our experienced loss assessors will conduct a comprehensive survey, missing nothing and ensuring each of your losses and damages are recorded. We will liaise with the insurers and their loss adjusters and challenge any reports which we feel do not fully represent the loss you incurred.
Claims handling & negotiations
We will liaise with all third parties and surveyors and look after your interests. We will also negotiate with the insurers, submit the necessary paperwork and do whatever it takes to help you get back on your feet in no time.
Legal representation
Should the need arise, we will arrange for top legal representation and deal with all aspects of the case on your behalf. We will not rest until avenues are explored and you receive the full compensation you’re entitled to.
Step by step guidance through business theft
FAQs about business interruption
Dealing with a business interruption claim can be very confusing.
At Knights, we welcome your questions and strive to give easy, clear answers.
Check out the FAQs, and if you don’t find what you’re looking for, don’t hesitate to get in touch.
My business has been interrupted. What should I do now?
If your business has been interrupted, it's important to take some immediate steps to protect your interests.
First, check your insurance policy to see if you're covered for business interruption. If you are covered, contact your insurer as soon as possible to start the claims process.
If you want to have a speedy process that is stress-free and gets you the best compensation, work with a loss assessor.
If you're not covered by insurance, you should still contact a loss assessor. They may be able to help you get around it. A loss assessor can help you estimate the financial damages caused by the interruption and determine if there is a way to get you compensated.
What is business interruption insurance?
Business interruption insurance protects your company from financial losses in the event that your business is shut down temporarily due to a covered event.
This type of insurance can help you pay for things like rent, employee salaries, and other necessary expenses while your business is closed. In some cases, business interruption insurance will cover your loss of potential profit too.
Some common events that can trigger a business interruption policy include fire, theft, vandalism, natural disasters, and power outages.
Make sure to review your policy carefully to see what is and isn't covered. Be sure to talk to an insurance agent about adding business interruption coverage to your existing policy.
Why should I use a loss assessor to help with my business interruption claim?
When a business suffers a disruption, it's crucial to take swift and effective action in order to minimize the damage.
Not only is it necessary to get your business back up and running as soon as possible, but you'll also need to assess the financial losses that occurred as a result of the disruption. That's where a loss assessor comes in.
A loss assessor can help you compile an accurate and detailed record of the losses your business incurred as a result of the disruption. This information can then be used to file a successful insurance claim. By working with a qualified and experienced loss assessor, you can ensure that you receive the full compensation you deserve for your lost business income.
At Knights, we work hard to provide guidance and support throughout the claims process, ensuring that you receive the compensation you deserve.
