We are delighted to announce Brendan Egan of Egan & Associates Quantity Surveyors as the winner of our hamper from last weeks Expo. Many thanks for all the entries recieved and the enquiries during the day. A very good day was had by all.

Business interruption insurance is one of the more important insurance covers for a business, because having it could mean the difference between your business surviving or not.

Commercial property insurance ensures that your building will be covered in the event of damage by any peril, and compensates you for the cost of restoring the building and restocking it to the pre-claim position.

However many commercial properties are used to generate revenue either from a trading business or as a rental property. A property / business owner might find that income may reduce or stop completely, with customers going elsewhere and some not returning. Business interruption insurance covers the loss of potential earnings.

Business Interruption cover is rated on a business’s Gross Profit level and covers against the loss of this gross profit due to a damage from any peril covered.

Even if a business can get operating very quickly from another premises on a short-term basis there are often a myriad of extra costs (extra rent, moving of stock, hire of business equipment etc) to be borne by the policy holder.  The Increased Cost of Working (ICOW) section of this cover compensates for these extra costs.

The importance of having the right cover and business interruption this cover was well illustrated in the recent case of C&D pet foods whose premises were destroyed by fire as reported in the Irish Times (April 9^th 2010).  Filings show the group received €8.6 million in fire insurance and €5.3 million in business interruption insurance as a result of the 2006 fire. This meant the business posted a profit for this period instead of a substantial loss.

This cover is very important, as few businesses could afford to shut down completely for a prolonged period of months and hope to remain in business – businesses need to trade in order to stay in existence. It is important that the amount of cover you require is adequate to ensure complete, rather than partial, recovery from the disaster.

At  Doyle Mahon Insurances we understand the importance of having the right cover in place at the right price. If  you would like to discuss your level of cover or obtain a competitive quote for your insurance call our offices at 053 91 23630 or request a call here.

If you’re insuring your property at the moment, you’ll have noticed the increase in premiums in the market. If that property is thatched this could become a significant headache. At Doyle Mahon Insurances we have an excellent product for thatched properties, here are some essentials for getting cover for your thatched cottage:

• When has the property been rewired or replumbed ? Thatched properties tend to be older so modern wiring and plumbing is essential
• The roof will need to have been re-thatched in the last 25 years.
• Is  there an electrical cert under 5 yrs old
• Occupancy? – Is it your home, holiday home for family use or holiday home for rent

For a competitive quote give us a call in Doyle Mahon Insurances today on 053-9123630 or email us at info@doylemahon.ie