Business Interruption Insurance Products

Compare 304 products offered for Business Interruption Insurance from 78 companies including Pirbright Professions, Ironshore Canada, and Zurich Canada.

Our Insurance Comparison Tool allows you to pick the Business Interruption policy that's right for you by comparing every plan offered by Canada's leading providers. The Frequently Asked Questions can help answer any questions regarding this coverage area.

Compare Business Interruption Insurance Policies

Products 1 to 10 of 304
Product name Max Coverage Min Premium Exclusions
Cyber Liability by Trisura Guarantee Insurance Company Max Coverage CA$20M Min Premium N/A


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Cannasure by Cansure Max Coverage N/A Min Premium N/A
  • health hazard
  • unlicensed drugs


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Great Outdoors by Cansure Max Coverage N/A Min Premium N/A


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Restaurant Recovery by Totten Insurance Group Max Coverage CA$75M Min Premium N/A


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Construction Project by Northbridge Insurance Max Coverage N/A Min Premium N/A


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Terrorism Property and Business Interruption by Cansure Max Coverage CA$500K Min Premium N/A


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Business Interruption - Time Element Select™ by FM Global Max Coverage N/A Min Premium N/A


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Marinas Package by APRIL Canada Max Coverage CA$10M Min Premium CA$1K


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Tanning Salons by Premier Group of Companies Max Coverage N/A Min Premium CA$500


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Cyber Liability by Premier Group of Companies Max Coverage CA$5M Min Premium CA$425


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Frequently Asked Questions

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What Is Business Interruption Insurance?

Also known as Business Income insurance, Business Interruption insurance provides coverage for financial losses that may occur when business operations are halted due to an unexpected event or disaster.

While business operations may stop for a time, things such as paying invoices, meeting with clients and dealing with suppliers will still need to be taken care of. The benefit of taking out Business Interruption insurance is that it will restore any business operations and trading back to the same position it was in before interrupting event occurred.

What Is Business Interruption Risk?

A business can be interrupted for several reasons. Operations can be halted due to man-made interference or through an unexpected incident. Some of the more common risk areas associated with Business Interruption include:

 

  • Disaster: this can be anything from a natural disaster affecting the business premises causing it to close (eg an earthquake, flood or hurricane) to man-made disasters like arson or vandalism
  • Cyber attack: if a business finds itself the victim of a hack it may discover that their databases may either be corrupted or inaccessible, causing a significant delay in operations
  • Faulty utilities: this can be anything from faulty electrics, a gas leak or lack of running water in business properties that causes the premises to close until utilities are working properly

What Does Business Interruption Insurance Cover?

Whatever the reason for trading or operations to be halted, Business Interruption insurance can help pay for the following

 

  • property damage: insurance will cover the costs of repairing buildings damaged or destroyed because of a natural disaster, vandalism, explosion or other type of destruction (this can include destruction of things like stock, contents, buildings, fixtures and fittings)
  • financial loss: loss of income during periods when you cannot carry out business as usual due to an unexpected incident
  • temporary site: if access to the original premises is not possible then a temporary site (or a new entrance to the existing property) will need to be paid for
  • machinery and equipment breakdown: any costs in repairing or replacing essential machinery, equipment or utilities essential for business operations
  • extra expenses: any extra costs incurred while the affected building is being repaired

Who Needs Business Interruption Insurance?

Any business, large or small, that operates with clients, employees and trade would benefit from Business Interruption insurance. Whether the premises are large or small, if an interruption of any kind could completely halt services then coverage is essential. The alternative is paying large reparation costs that could potentially bankrupt a business.

How Much Does Business Interruption Insurance Cost?

The size of the business, plus the potential scale of the impact of an unexpected event, will determine how much coverage will need to be taken. Companies may wish to calculate the potential amount needed for protection by considering what would happen if their business operations were completely stopped.

What Is Not Included In Business Interruption Insurance?

As Business Interruption is primarily concerned with covering the costs involved in maintaining a business while it’s running at a reduced capacity or out of operation entirely, there are several key areas that do not tend to be part of these insurance policies. Some of the more common exclusions include:

 

  • Damage caused by war or terrorism (there is an increase in insurance policies that now include this but wordings should always be checked carefully)
  • Interruption caused by liquidation or bankruptcy
  • Deliberate or intentional acts of physical damage