- Increased cost of working
- Delayed Start Up (DSU)
- Standing charges (ie. fixed overhead costs)
- Anticipated or Actual Loss of profits (ALOP)
- Interest on loans
- Additional promotional costs
- Loss of tax incentive
If new machinery is lost or damaged in transit or the delivery is delayed, you may be able to claim for lost projected sales revenues and profits together with any additional expenses incurred to keep old plant running while waiting for the new machinery to arrive.
Because we have extensive experience in writing consequential loss policies, we know it can require quite a lot of information from you to properly assess the risk to make sure that we are providing the cover that you actually need.
In order for us to write your consequential loss cover, we must also be the insurer of your cargo. This means we can help guide any arrangements for repair or replacement of lost or damaged items, and help mitigate the effects a possible loss may have on your Consequential Loss policy.
We have designed specific cover for these buildings while they’re in transit.
Our Buildings in Transit policy covers:
- Physical loss of, or damage to, the insured building while it is in transit up to a sum insured based on the market value of the building including selected additional costs (as set out below)
- Debris removal in the event of an accident, and expediting expenses costs (such as paying more to get materials for the repair delivered sooner) - automatically included up to specific limits
- Selected additional costs that you incur if the building is damaged or destroyed, including:
- Removal costs, such as the costs of transit, of preparing the building for transit, and of preparing the destination site
- Administration costs, for which the insured is contractually liable, such as council permits - up to 10% of the total sum insured
- Additional professional costs, including architect's, surveyor's and legal fees