Business Interruption & Material Damage Insurance

Business Interruption insurance (BII) provides crucial coverage to help your business manage risks and recover from unforeseen disruptions. 

For removals, freight, and relocation businesses like yours, this type of policy will safeguard physical assets and ensure business stability when operations are stalled. Types of business disturbances covered can range from natural disasters to major equipment failures. However, your exact coverage will vary depending on the policy you need and your insurer.

Unlike commercial building and contents cover, which is exclusively focused on physical damages to your premises and contents, this type of policy supports your business’s ability to recover.  

It mainly focuses on income loss and extra expenses that you need to get back to work again. These can range from renting temporary equipment or securing a backup facility to ensure you can get the job done and dusted. 

Material Damage Insurance covers the loss or damage to physical assets. What these assets are will generally vary depending on your business and your policy. 

Generally, a material damage policy can cover:

• The structure of your business premises against damage or destruction, ensuring you can repair or rebuild as necessary. 

• Equipment and machinery such as forklifts, racking systems, and loading platforms. 

• Loss and damage of stock, both in storage and if the goods are in transit.

• Coverage for removing debris from damaged sites, including stock and drain clearance. 

• Extended coverage can also cover machinery or stock displayed at exhibitions. 

Business interruption coverage only applies if material damage insurance is active during the incident. You’ll sometimes hear this being referred to as a material damage proviso. 

The material damage proviso ensures the policy covers lost income only when there’s actual physical damage to your property. 

It helps to avoid disputes and make it clear when a claim can be made. This protects you and the insurer by tying financial recovery to tangible, covered events like fire or flood.

Premiums for this type of policy will usually vary based on asset value, business size, and coverage needs. Specialised equipment or larger facilities may raise costs. However, with a tailored policy, you’ll pay only for the protection you need. From marine cargo and goods in transit to liability insurance, we can craft and shape policies for your business needs. 

That’s not all, though. Our experts can offer a hands-on advisory service that you’ll find nowhere else. So, what are you waiting for? Safeguard your assets and operations from the unexpected. Contact MoveCover via phone on 01952 446075 or email at hello@movecover.co.uk for a tailored business interruption and material damage policy.