Fergusons Insurance Brokers

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39B Davey St Frankston, Victoria
Phone: (613) 9783-3200

Business Interruption Insurance

Insured Item - Additional Increased Cost Of Working

This cover is a first loss cover item and as such is not subject to the normal policy average (co-insurance) clauses.

The Insured is indemnified with respect to any additional increased cost of working not otherwise recoverable under the gross profit item (section 2) necessarily and reasonably incurred for the sole purpose of avoiding or diminishing the reduction in turnover and maintaining the normal operation of the business.

In other words if the Insured can demonstrate that they can save an Insurers payout by reducing the lost turnover a claim could be made. Coverage would be available up to the selected sum insured.

An example could be an advertising campaign to advise their client base and the public that they are back in business.