Assets All Risk insurance provides protection for business property that is accidentally physically lost, destroyed or damaged by anything other than excluded causes. This means that you’re covered for almost every eventuality, which makes your coverage broader and easier to understand too.
Examples of excluded causes are:
- Damage caused by defective design materials or workmanship
- Willful acts or negligence by the insured
- Acts of fraud or dishonesty
- Disappearance, unexplained or inventory shortage
In the event of damage to the property caused by certain prescribed insured events, you, as the business owner, may not be able to generate income at the same level as prior to the loss. Business Interruption insurance will provide cover for the proportionate loss of net profit and fixed costs that prevent, reduce or interrupt trade or business at the insured premises