Material Damage and Business Interruption
At Miles Smith we are constantly evolving our insurance offering to meet the needs of modern businesses. We now offer a combined material damage and business interruption policy to protect our clients if they suffer loss or damage to buildings, plant and stock that may in turn result in a significant overall business interruption.
Material damage insurance provides cover to reinstate any asset lost or damaged to how it was before an insured event occurred, such as a fire or flood. It’s the modern form of what used to be called fire & perils but is a far superior cover. When combined with business interruption cover, it provides complete cover against a serious event. Not only are your assets covered, but your business income is protected financially from an inability to trade.
- What’s typically covered?
- Reinstatement and replacement of buildings, fixtures, office contents and stock
- Damage or destruction from fire, storm or flood
- Accidental Damage
- Loss of revenue
- The cost of any additional staff needed as a result of the disaster