Sagar Insurances offers Terrorism cover to businesses, in order to help repair and rebuild any property destroyed in the event of a terrorist attack.
Why does my business need terrorism cover?
- A commercial terrorism policy covers damaged or destroyed property—including buildings, equipment, furnishings and inventory. It may also cover losses associated with the interruption of your business.
- Terrorism insurance may also cover liability claims against your business associated with a terrorist attack.
- Most commercial property insurances exclude terrorism, including motor policies, or severely limit the cover provided automatically.
- UK insurers limit the limit of indemnity in respect of Employers’ Liability cover to £5,000,000 in respect of Terrorism.
Factors to Consider When Deciding Whether to Buy Terrorism Insurance:
- Business location
Rural and residential areas are less likely to be targeted by a terrorist attack. Commercial urban centres, as well as airports and train stations, have a higher risk for terrorist attack
- Type of business
Certain industries, such as the energy sector, have a higher risk of being targeted for terrorist attacks. If your business is part of a high-risk industry, you may want to consider purchasing terrorism insurance.