What if you were suddenly unable to earn income from the space that you own?
If an unexpected event means your storage premises are out of action for a while, you could risk losing customers to your competitors. No matter the guidelines or procedures that you put in place, your self storage business could still be susceptible to hazards.
Benefits of Business Interruption Insurance
Should an unexpected event occur, such as a flood, fire, storm, or something else, Business Interruption insurance could help to keep your business going while you get back on track, Aon can insure your loss of revenue up to the point where, not only has the facility been re-built, but to where it has been re-occupied, subject to the maximum indemnity period you decide upon in this respect.
Business Interruption can assist with the payment of your on-going financial obligations, legal fees incurred in relation to your claim and Additional Increased Costs of Working (AICOW) cover. This means you are indemnified for additional costs such as the renting of a substitute warehouse in which to store your customers’ goods whilst your damaged warehouse is out of action.