Business interruption insurance pays for no broken machine and no burnt-out building. It pays for the months in which that damage leaves you with less turnover while the fixed costs run on.
The calculator and the quote form below are in Dutch. Prefer to do this in English? Email info@finassverzekert. nl or call 072 - 509 24 56 and we will take it from there.
Work out for yourself what it would cost.
Enter your details; you will receive a proposal within one working day.
We compare the offerings of several insurers
An adviser checks whether the cover suits your activities
A premium indication, not personal advice. Prefer to talk it through? Call 072 - 509 24 56.
In brief
Business interruption insurance is a consequential-loss insurance. There must first be covered material damage to your building, contents, stock or machinery. Only then does this policy come into play. The payment runs over the indemnity period: the period within which you are taken to be back at your former level of turnover. On this product that period is the most important choice, and it is consistently set too short.
What is insured is the gross profit: turnover minus the costs that fall away by themselves when work stops, such as the purchase of goods for resale. What remains is rent, wages, depreciation, lease instalments and interest, plus the profit you would have made. Underinsurance almost always arises here through growth: the sum was set at some point and never adjusted since.
We work through that sum and that period with you on the basis of your annual figures, and test whether the rebuilding time, the permit process and the delivery time for your machinery really fit within it. Background on this form of cover is on our page about business interruption insurance.
Business interruption insurance through Allianz: what is covered?
The structure of the cover in three parts, with an overview per situation below.
Our role
Independent
We are not tied to any single company.
Several providers compared
Advice follows your situation
AFM licence 12016589
When taking out cover
What we do
From assessment to policy.
Matching cover to your work
Conditions side by side
Switching, including cancellation
After that
In the event of a claim
What really matters.
Notification and guidance
Assessing a rejection
Objection where necessary
What is covered
What we look at
Explanation
Does the cover suit your activities
Yes
Sum insured and excess
Yes
Exclusions and clauses
Yes
Fit with your other policies
Yes
Premium in relation to the conditions
Yes
Comparing on premium alone
No
This overview is general in nature and is not personal advice. What is actually covered, including exclusions, limits and the excess, is set out in the policy conditions and the insurance card (verzekeringskaart) of the insurer; you receive both before you take out cover. Taking out cover without advice? Then read what execution only means for you.
Where things go wrong in practice
Four points that make the difference between a policy that pays out and one that does not.
The indemnity period is not an administrative detail
Six months is enough for an office that moves elsewhere temporarily after a fire. For a manufacturing business with an environmental permit, demolition, rebuilding and a machine with a long delivery time it is too short: if the period runs out while you are not yet operating, the payment stops too. We put the realistic recovery time on paper before the period is fixed, including the permit process.
Underinsurance arises through growth, not through bad luck
The sum insured is derived from your gross profit over a year. If your turnover grows and the sum stays as it is, the proportionality rule is applied when a loss occurs and you receive only part of your interruption loss. An accountant's clause or a first loss arrangement can absorb that. At renewal we check whether the sum still matches the latest annual accounts, and not those from three years ago.
Interruption at another business: supplier and customer risk
If your only supplier burns down, you have an interruption but no material damage of your own. The main cover then pays nothing. For that there are separate extensions for supplier risk and customers' premises risk, usually with a separate limit and a named list of businesses. The same applies to failure of your electricity, gas or water supply: that cover must be expressly included and often carries a waiting period of its own.
What is not included
Interruption without prior material damage is excluded: an IT failure, a hacked system or a blocked access road does not lead to payment here. Digital interruption belongs with cyber insurance. Government measures, epidemics, penalties for late delivery and the loss of customers after the indemnity period ends also stay outside the policy. Extra costs to keep going faster are covered only under separate increased cost of working cover.
What does your premium depend on?
Indemnity period chosen. Moving from six months to two years is the most decisive choice on this policy and feeds straight through into the premium.
Level of the gross profit. The sum insured follows from turnover minus variable costs. The premium is calculated on that amount.
Fire risk of your process and premises. The underlying likelihood of fire helps set this premium, so construction, storage and processes weigh heavily.
Replaceability of your production equipment. Machines with long delivery times or bespoke control panels extend the interruption and with it the expected loss.
Spread across locations. If you can move production temporarily to a second site, the expected interruption is shorter.
Extensions included. Supplier, customer and utility failure and increased cost of working cover are priced separately on top of the basic cover.
Insurers weigh these details differently. That is where your saving is.
How we arrange it
You request a quoteWe take stock of your activities, turnover and wishes.
We compareseveral insurers, on premium as well as conditions.
You receive a proposalWith an explanation of the differences and the exclusions.
We arrange the switchIncluding cancellation, so there is no gap in cover.
Customers rate our service on four aspects: personal service, service delivery, availability and the outcome. The reviews are collected and published by NH1816 and come from customers who have actually taken out a policy with Finass Advies B.V. or reported a claim.
Why does the policy pay nothing for a breakdown without fire or burglary?
Because the cover is tied to covered material damage to your own property. Without that damage there is no way in, however large the loss of turnover. That is not a fault in the conditions but the way the product is built. For interruption without a physical cause there are separate covers, such as the business interruption module within cyber insurance.
How do I set the right indemnity period?
Work back from a total loss: clearing the site, the insurance assessment, the permit, the specification, tendering, building, installation and commissioning. Add the time you need to win your customers back, because they do not return on the day you reopen. For businesses with specialist equipment this often produces a considerably longer period than expected.
What happens if my sum insured turns out to be too low?
Then the proportionality rule applies: the loss is paid in the ratio the sum bears to the actual gross profit. With substantial growth that can leave a considerable part of your interruption loss for your own account. An accountant's clause or an annual adjustment based on the final figures prevents this. We go through that with you as a matter of course at renewal.
Are the extra costs of keeping going insured?
Only where there is room for them. Costs that reduce the interruption loss, such as temporary rent or subcontracting to a fellow business, are often paid up to the amount you save in payment by doing so. If you want to spend more because continuity for your customers matters more to you than the arithmetic, separate increased cost of working cover with its own sum insured is needed.
Finass Verzekert is a trading name of Finass Advies B.V. We advise on and arrange non-life insurance on the basis of an objective analysis of several insurers, and receive commission for this from the insurer, which is included in the premium. You pay no separate advice fee. Before you take out cover, we establish your wishes and needs.
You will find our licence, KvK and Kifid details and our complaints procedure at the foot of every page.
