The Machinery Loss of Profits Policy provides cover for the actual loss of profits sustained because of a business interruption caused by material damage indemnifiable under machinery insurance.
The Machinery Loss of profits covers by:
– Replacing the income lost due to interruption caused by material damage indemnifiable under machinery insurance
– Reimbursing the charges which continue regardless of the reduction in turnover.
– Paying net profit which would otherwise have been earned
– Meet additional costs which may be incurred to enable the business to recover more quickly or to reduce the loss. Examples of such costs are cost of provisional repairs, installation of temporary machinery and cost of alternative premises.
– Indemnity period of 12 months
This policy covers the following:
– Loss of profits
– Loss of revenue
– Loss of rental income
– Wages or salaries
– Auditors’ fees
– Increased cost of working due to business interruption.
First Assurance House,
Gitanga Road, Lavington