If you’re feeling relaxed and confident after reading our previous story on the rising threat of damage to property from bushfire because you know your business premises and everything inside it are all fully covered, there might still be one potentially devastating aspect you’ve overlooked.

That’s because the majority of small business owners either, don’t know about it, forgot about it or decided to forgo it to save a few dollars in the short-term.

Picture this: Your business is completely destroyed by fire. Your insurance payout more than covers the cost of replacing it, but the re-build is going to take at least 12 months!

Maybe location is everything to your business so moving elsewhere isn’t an option. Could you survive financially for a year if you were suddenly unable to operate your business?

This is just one scenario. An interruption to your cashflow could occur because of a problem with your supply chain, theft or break-down of crucial equipment…every business has it’s risks! It’s situations like this where Business Interruption Insurance could save your bacon.

Commonly it’s the poor forgotten, neglected and little-known members of the business insurance pack. Statistics show almost 50 per cent of SMEs will fail after a major loss. (source: Know Risk Network)

If you would like to know more about Business Interruption Insurance, phone MGIB on 1300 762 146.