Businesses can be devastated by unexpected events. The chaos following a fire in your café, for example, may make it impossible to operate your business for an extended period of time. The inability to trade could put your entire livelihood at risk.

While businesses may have insurance that covers against incidents like fire and storm damage, less thought is given to the ongoing consequences of a major business disruption. Property insurance may cover rebuilding, but it does not pay the bills and wages while the business is being re-established.

Many business owners overlook the time taken to repair or rebuild premises or replace stock and equipment. Covering the cost of rebuilding or restocking only solves half the problem. You also need to consider the lost profit opportunities your business will suffer whilst being unable to operate.

Many insurance experts cite business interruption as the most frequently overlooked or underinsured cover by small to medium businesses. This may be due to the confusion in calculating the right level of cover or the misperception it is too expensive. Insurance brokers can help you sort through these issues to ensure you arrange the right protection for your business.

Business interruption is arguably the most important part of your insurance program. Apart from covering you for lost profit and payment of bills and wages until you can commence trading again, business interruption insurance can also cover the cost of professional fees like accountancy and legal expenses incurred when preparing a claim.

The OAMPS café insurance package has been arranged with select insurers who specialise in the café industry and can provide competitive insurance solutions.  OAMPS is able to offer a variety of flexible extensions and options to ensure that you have the correct cover for your needs and do not pay higher premiums for covers you do not require.

OAMPS café insurance includes:

• Full accidental damage cover to property;

• Extended definition of buildings to include plastic awnings, blinds, umbrellas and shade sails;

• Automatic hail and flood cover available for most postcodes;

• Storm damage cover for exterior awnings, blinds, furniture and contents;

• Seasonal increase for stock and money;

• Refurbishment or new construction up to $500,000;

• Extended liability insurance encompassing outdoor dining and footpath risks;

• Fire extinguishment costs up to $25,000;

• Employees’ personal property $5,000 per person;

• Property in transit up to $25,000;

• Works of art up to $20,000.

For further information, visit oamps.com.au or call one of our brokers for an obligation-free quote on 1800 240 432.