Discontinued Operations Insurance
Discontinues Operations Insurance compensates for lost contribution resulting from the suspension of operations, which leads to a decrease in the sales of goods or services. The insurance covers damage caused by fire, but it is also possible to add protection against water damage and burglaries.
The insurance is an addition to the Personal Possessions Insurance. It is a condition for claiming Discontinues Operations Insurance that the company has Personal Possessions Insurance with VÍS that compensates for the damage that caused the business interruption.
It is possible to purchase Additional Expense Insurance as an addition to the Discontinues Operations Insurance, or the Additional Expense Insurance can be bought separately. This insurance compensates for proven and unavoidable additional costs resulting from the business interruption.
The insurance covers
- Damage caused by fire.
Optional Coverage:
- Water damage, damage caused by sudden heavy rainfall, and sudden icy conditions as well as damage caused by leakage of oil or coolant.
- Damage caused by burglary.
The insurance does not cover
- Increased business loss due to strikes, mechanical failure, operational delays due to renovations, expansion, or public authority directives.
- Business loss resulting from a general downturn in the relevant industry.
- Business loss caused by changes in market position or due to a lack of capital.
- Please note that the above list is not exhaustive. Further information can be found in the insurance terms.
- In case of discrepancy between this list and the insurance terms, the insurance terms applies.
Insurance Terms
The insurance terms is your contract with VÍS. It is important to thoroughly read the terms and understand what is covered and what is not, before purchasing the insurance.