Protect your business with a comprehensive fire loss of profit insurance. Safeguard it from unwanted interruption caused by fire and other special perils.
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50+ years of collective insurance experience
₹5,000 Cr+ of cumulative risks insured
A fire loss of profit insurance is a type of business interruption insurance that covers the loss of gross profit due to fire and allied perils damaging insured property.
This policy can be combined with a standard fire and special perils policy to offer complete protection against losses from fire, flood, and other special perils. It covers elements such as lost revenue, fixed expenses, and additional costs necessary for resuming business operations.
Covers standing charges
Includes auditor fees
Ensures protection against loss of net trading profit
Accounts for the increased cost of working
A fire loss of profit (FLOP) policy is beneficial for various businesses across multiple sectors. If your business could face significant financial disruption due to fire-related interruptions, consider securing a FLOP policy. Businesses that may benefit include:
Owning a business necessitates a Fire Loss of Profit policy for several critical reasons. A fire can lead to temporary or long-term business closure, during which revenue generation may cease. Standard property insurance policies cover physical damage but fail to consider financial losses from business interruptions. FLOP insurance fills this gap by covering potential income and profits that a business could have earned without the fire-related interruption. It also assists in covering ongoing expenses and mitigating the risk of long-term customer attrition.
Here are some extensions covered in FLOP policies in India:
This is an article by YouStory written by Palak Agarwal and published on October, 2022
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