Business interruption insurance

After a substantial loss, you have to close your catering business and can no longer receive guests. You have lost sales because you (temporarily) can no longer receive guests and guests go to competitors in the meantime.

In addition, you must find a replacement business space for your hospitality business. In the meantime, however, you are obliged to pay the salary costs of your catering staff and the fixed expenses of your catering premises. And all in all, you have no income yourself!

Business interruption insurance protects your company in such situations.

• Fixed expenses such as rent, utility bills, interest and depreciation;
• The net profit of your hospitality business;
• The cost of your employees' wages;
• The extra costs you have to incur to get back on your feet such as renting a replacement business space.
• Free additional coverage of 30% of the insured amount. This is because the gross profit of your hospitality business is different every year.

You can choose a benefit period of 52, 78 or 104 weeks. Factors that are important in determining the benefit period include location, construction type, size and whether the hospitality property is rented or purchased. By taking these factors into account, you can insure the risks specific to your hospitality business. 

Do you own a detached hospitality property on a large lot? Then we usually recommend a benefit period of 52 weeks. Suppose you are open again after 52 weeks, but your turnover is not yet at the old level. Then the difference in net profit will be reimbursed by the insurer, if you opted for 78 weeks. 

Have you rented a downtown hospitality property in a densely built-up location? Then we are more likely to recommend a 104-week benefit period due to the increased risk. However, every situation is unique, which is why we are happy to advise you on your hospitality property without any obligation.

Every hospitality business is unique! We are therefore happy to advise you and discuss together which coverage best suits your hospitality business in a personal consultation. We can also help you compare different insurance policies.