Consequential loss insurance policy is a complete cover for income loss to a business due to disaster such as business facility shutdown. The consequential loss policy can also offer cover for rebuilding process later to a disaster. This policy on riskfreelife.com is also known as business interruption insurance or business income insurance.
- Loss of profit consequential damages referred sometimes to as "special" or "indirect" damages, involve loss of product, profit or revenue.
- With consequential loss insurance policy, the losses can be recovered if these are identified as damages falling under reasonable, foreseeable at the time of contract formation.
- The cover will depend on conditions, which were agreed on during the contemplation of fire and consequential loss insurance deal.
In addition to the preventive method, you can even purchase add-on covers which offer cover for other associated losses and pays for damages for which you require monetary assistance. Such covers will help you save up finances, which would otherwise lead to heavy expenses to pay for the losses. It is advisable to renew your consequential loss insurance policy when the term is at the end or take a new one as per your needs.
The loss could be of any nature, but at RFL our consequential loss insurance program will garner you protection from maximum losses and give immediate cover for the same. You do not have to look anywhere else! We have the most comprehensive insurance policies that will expose you to topmost advantages. Choose us today to gain bounty of benefits for tomorrow.