When damage occurs to your trading premises; the loss of stock and machinery, fixtures and fittings, can be devastating for the running of your business. Using J.Z. Fogel as your assessor, we’ll make sure that your insurance company accounts for the full recovery of these losses so that your business can carry on trading.
By having your gross profit covered, you know that your wages, rent and any other overheads are still covered even though trading has temporarily ceased. This will be paid by your insurance company until the end of your indemnity period. ( Indemnity period is the length of time that your insurance company covers you for after any damage from insured peril. Most policies cover a 12 month indemnity period. However it is not uncommon to have up to 36 months’ indemnity period.)
all necessary funding is recovered from your insurance company subject to your insurance policy – so you can keep paying the bills. This section of your policy also covers you for Increase In Costs of Working ( ICW). We’ll always make sure you’ll be paid for any temporary premises or the renting of equipment. It will also account for sub contractors in order to keep your clients supplied until you’re able to return to normal trading. In most cases, we can negotiate a payment on account to help you get back on your feet.