Business Interruption Insurance
Disasters often strike without warning, forcing you to temporarily close your business.
Protect your business with Business Interruption Insurance.
Trusted by over 300,000 Canadian small business owners!
Save up to 35% on your insurance
Instant price and coverage in just a few clicks!
Trusted by over 300,000 Canadian small business owners!
Save up to 35% on your insurance
Instant price and coverage in just a few clicks!
Partnerships with over 50 leading Canadian insurance providers
Partnerships with over 50 leading Canadian insurance providers
Why Choose Zensurance?
We help Canadian small business owners save time and money by providing
a convenient and affordable way to buy business insurance.
Convenience
Purchase your insurance anytime, anywhere, with our easy-to-use online platform.
Cost
Compare rates across leading insurance companies to ensure you get the best price on your premium.
Curation
We use data and analytics to identify the right insurance policies for your business.
Claims Examples
Problem: Following a kitchen fire, you have to close your cafe during restoration and repairs.
Outcome: Your Business Interruption Insurance covers the income lost when you were closed, totalling $55,000.
Problem: One of your suppliers suffers a fire, causing your shipments to be delayed and negatively impacts your income.
Outcome: Your Contingent Business Interruption policy covers the income lost during the time it for your supplier to recover, totalling $79,000.
Problem: Your office was broken into and vandalized, forcing you to rent a temporary office space during repairs.
Outcome: Your Business Interruption Insurance covers the temporary rental costs, as well as utility fees, totalling $18,000.
Business Interruption Insurance, Explained.
What is Business Interruption Insurance?
Business Interruption Insurance provides coverage for net income lost following a covered property loss. In addition to covering lost income, Business Interruption Insurance may also cover overhead costs required to keep your business operating, including rent and electricity, as well as employee payroll.
Business Interruption Insurance is not a standalone policy. It is typically included in your commercial property insurance policy or may be added to your existing policy as a rider.
What does it cover?
Business Interruption Insurance typically includes coverage for net income lost due to an insured disaster, as well as operating costs. Most policies respond after 12 or 24 hours of consecutive business closure.
Some expenses that may be covered include:
- Overhead operating costs, such as rent and electricity.
- Mortgage, rent, and lease payments.
- Moving to a temporary location.
- Employee’s wages and payroll.
- Internet and telephone connections.
- Taxes and loan payments.
What does it not cover?
Business Interruption Insurance does not provide coverage for:
- Terrorism
- Undocumented income (income that is no listed on your financial records)
- Pandemics, viruses, or infectious diseases (e.g., COVID-19)
- Flood, earthquake, or pollution damage. Note, your commercial property policy may cover these events. Please speak with your broker to confirm.
How much does it cost?
The cost of Business Interruption Insurance is primarily based on your revenue amount, with rates beginning at $100/year.
Business Interruption Insurance is typically included in a commercial property insurance policy or business owner’s policy (BOP) automatically or added to an existing policy.
Who needs this coverage?
Business Interruption Insurance is recommended for all business owners as a form of protection against lost income due to an insured loss.
What is the indemnity period under business interruption?
The indemnity period refers to the length of time for which compensation is payable under a business interruption policy and is typically 12, 24, or 36 months. The indemnity period may be extended to provide additional coverage beyond the length of time it takes to restore your business (restoration period)
Frequently asked questions
Different types of Business Interruption coverage will determine how payout is calculated. Most policies cover reimbursement for profits your business would have earned based on the prior month’s performance, in addition to extra expenses beyond fixed costs. Employee wages, taxes, and loan payments may also be taken into account.
Standard business interruption insurance provides coverage for damages sustained due to direct physical loss or damage, such as a fire. Unfortunately, it will not cover income lost or barriers to trade and travel due to a pandemic, infectious disease, or government-mandated closure.
Business Interruption Insurance is typically included in a commercial property insurance policy or business owner’s policy (BOP). You can add it to an existing policy as a rider.
Other business insurance coverage options to consider:
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- Had a great experience working with Julianne Katz as she walked me through the different insurance options and what they mean! I highly recommend their service.Sam Gabrail7/24/2024Angela Grigg was awesome to work with. the process was very smooth and clear. Thanks for your helpHalyna Uvarova7/24/2024Good service , I renewed my policy for the 3rd time, the zensurance team helped me to get the best option on the market that will suits my companyVladimir Perciun7/23/2024
- Bernard was very professional and helped us through the processMohd Adnan Khan7/23/2024Staff are extremely helpful and attentive. They are very quick with their response time and turnaround time. I would highly recommend Zensurance to anyone!Tyson Buchannon7/23/2024Very helpful and reasonable rates. Bernard Albano worked with me to find the right insurance policy for my business and he reached out to be sure I had answers to all my questions. I would recommend Bernard and Zen insurance.Rachel Kruyf7/22/2024
- Received great service and all questions answered quickly. Happy customer!AL DL7/21/2024Good experience 👍🏾4tree7/19/2024Brett was super helpful, quick to respond, informative and professional. He made my first experience with Zen a breeze. Highly recommend.Rygel Ragbar7/19/2024
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