Whether you are a freelancer or self-employed - if the business is interrupted, this entails financial burdens. Business interruption insurance helps you to keep the financial loss as low as possible.
A business interruption insurance is useful if there is a risk that:
- the business will come to a standstill due to property damage.
- the business will come to a standstill due to the absence of a certain person (freelancers, sole traders).
What is insured?
Business interruption insurance protects you if your business comes to a standstill due to one of the following risks, for example:
- water damage,
- loss of key person due to illness or accident.
In the event of a loss, business interruption insurance covers the loss of operating profit and the cover of ongoing fixed costs such as rent, personnel, credit or loan instalments.
- At night, a fire breaks out in the machine hall. The damage caused interrupts production for several months.
- Dr M. likes to ride his bicycle. One day he overlooks a stone and falls heavily. Due to the accident, he is unable to work in his practice for eight weeks.
- The sole proprietor K. suffers from a serious illness. He is only able to resume his work after three months.