Rebuilding time · season · reconstruction
Business interruption insurance through Avéro Achmea
The question with this policy is not whether you are insured but how long you can hold out. Rebuilding after a fire takes more time than business owners assume when they take out cover.
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Deze pagina in het Nederlands: Bedrijfsschadeverzekering via Avéro Achmea.
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
- We arrange the switch, including cancellation
A premium indication, not personal advice. Prefer to talk it through? Call 072 - 509 24 56.
In brief
We place business interruption cover with Avéro Achmea among others, a company we often use for SME businesses and for the agricultural sector. Finass is tied to no insurer and sets the range of more than thirty companies side by side. The cover fits on to your property policies: the buildings insurance and the business contents insurance repair what is broken, this policy absorbs the period in which you cannot operate.
The pinch point is almost always the duration. After a large fire comes an investigation first, then asbestos and rubble clearance, then an environmental permit, then tendering and only after that the building work. For a production building or a livestock shed that process easily runs over several years, while many policies stand at a standard period of twelve months. If the period runs out while you are not yet operating, the payment stops, even if the sum insured is nowhere near exhausted.
A second point is that a business rarely earns evenly through the year. A seasonal pattern as at a nursery, a campsite business or a contracting firm means that a fire in March produces a very different loss from a fire in November. So have the basis set from the annual figures and not from an average month. For organisations whose income continues after an incident, a additional costs insuranceis more appropriate. For the agricultural variant see agricultural business interruption.
This page deals with one situation. The full overview is on Compare business interruption insurance.
What to look out for
Four subjects that determine whether the payment actually carries you through the recovery period.
Permits and rebuilding on the same site
If you may not rebuild as it stood, for example because zoning or environmental rules have changed, the rebuilding is delayed. The extra time falls within the indemnity period, but the additional cost of altered rebuilding belongs on the buildings policy and not on this cover. Arrange a period that can cope with these procedures. It can no longer be extended once the fire has happened.
Reconstruction of records and data
Without order records, crop records or customer data you will not get going even in new premises. The costs of rebuilding that data are a separate section, often called reconstruction costs, and they are not automatically included. Digital interruption without fire or burglary falls outside this policy in any event and belongs on a cyber insurance.
Exclusions that are often missed
Outside the cover are government measures such as a transport ban or a cull in an animal disease outbreak, failure of gas, water or electricity in the public network without damage to your own installation, and loss caused by gradual processes, wear and tear or deferred maintenance. Intent remains excluded at all times under Article 7:952 of the Dutch Civil Code.
Vacancy, refurbishment and change of use
If part of your business stands idle, refurbishment takes place or the activity changes, the risk changes. If that is not reported, the Articles 7:928 and 7:930 of the Dutch Civil Code give the insurer room to reduce or refuse payment. The same applies if you allow third-party storage or let part of the premises to another business.
What does your premium depend on?
- Annual yield insured: the basis follows from your annual figures
- Length of the indemnity period: twelve, eighteen or more months
- Rebuilding time for the building: a shed or hall takes longer than an office unit
- Fire prevention: compartmentation, electrical inspection and storage
- Spread across locations: can you carry on elsewhere temporarily
- Seasonal sensitivity: peaks determine the loss when work stops
Insurers weigh these details differently. That is where your saving is.
What is covered
| Situation | Basic | Extended |
|---|---|---|
| Four months of standstill after a fire in your production hall | Yes | Yes |
| Loss of turnover because the fire brigade closes off the street after a fire in the neighbouring building | Provided that | Yes |
| The rent for temporary premises so that you can keep operating during the repairs | Provided that | Yes |
| A standstill because your only supplier has burnt down | No | Provided that |
| Your premises are unreachable for weeks because the council digs up the access road | No | No |
| Customers who moved elsewhere during the recovery period and do not come back | No | No |
The payment stops on the end date of the indemnity period, even if the sum insured has not been used up by then.
Frequently asked questions
This is what people ask us most.
Twelve months seems long. Why should I choose longer?
Because the clock runs from the date of the damage and not from the first brick. Investigation, clearance, permits and delivery times for installations fill almost the whole first year for larger premises. What is more, you will not be at full capacity the moment the building is handed over. A longer period costs relatively little extra premium and is the most important dial on this policy.
The premises belong to my landlord. Do I still need this cover?
Yes. The landlord insures the building, not your turnover. If the premises burn down, your business is at a standstill while the landlord rebuilds at his own pace. You depend on someone else for the duration, which makes a longer indemnity period all the more important. Set out in the lease the period within which repairs are to be carried out.
Is lost return on harvested or grown produce paid for?
Lost stock and crops are property damage and belong on the stock or crop policy. This insurance pays for the consequences of that for your trading result during the indemnity period. In agriculture that often runs across several growing cycles, so a short period is inadequate. Have the interaction between the two policies worked through in advance.
What if I decide after the loss not to rebuild?
Then an assessment is made of the loss you actually suffer. The insurer pays for the period that would reasonably have been needed for repair or, if you cease trading, usually a limited wind-down period. You cannot expect payment over the full period without carrying on the business. Discuss this scenario before you make a decision.
Read more
Within Bedrijfsschadeverzekering
- Bedrijfsschadeverzekeringthe main page
- Avero achmea zakelijk bedrijfsschadeverzekering overig
- Business interruption insurance through a.s.r.
- Additional costs insurance through De Goudse
- De goudse zakelijk bedrijfsschadeverzekering
- Increased cost of working insurance through Avéro Achmea
- Klaverblad zakelijk bedrijfsschadeverzekering
Similar pages
- Business interruption insurance through a.s.r.
- Business interruption insurance for agricultural businesses
- Business interruption insurance through De Goudse
- Business interruption insurance by sector
- Business interruption insurance through Allianz
- Business interruption insurance for agricultural businesses through Avéro Achmea
- Additional costs insurance through Avéro Achmea — compare & calculate your premium
- Additional costs insurance through De Goudse