Actions on Business Interruption

If your property and business has been affected by the recent riots and vandalism in London and elsewhere then you will want to act quickly to protect, repair and get back on your business back into operation and trading. We can’t be there to help but we can assist with the following pointers.
1 Business Rates
If your trading has been directly affected, or even if you are lucky enough not to have direct damage caused but your business operations have been affected, then you can claim relief from paying business rates due to impact on your business. Here are some tips;
Keep a diary of events, times, dates etc.
Take photographs & notes.
Advise the local authority, they have the responsibility for collecting your payments, that you have been affected and will be claiming relief.
2 Insurance
Check your insurance policy, and then re-check your insurance policy. It may require you to take certain actions to enable you to make a sucessful claim. This could include advising them within a certain time limit or they may wish to view police reports etc. So when speaking with the police please make sure you get the crime report number your insurers may ask for it.
Your policy may also require you to take actions to prevent consequential damage. This could include turning off utilities or making temporary repairs. Check what you must do to maintain sucessful insurance claim.
Stock take to ensure you can produce evidence of what was taken and / or damaged. Only dispose of damaged stock if you are sure you can demonstate to your insurers that you had it and it was damaged, or if your insurers have confirmed it can be disposed of.
3 Rental Payments
It is quite possible that your landlord will require you to continue to pay rent and service charge payments throughout this period. We recommend that you read your lease and understand what provisions it makes in these scenarios.
Contact your landlord and advise them of the damage to the property and your business. Proactive landlords will also need to contact their own insurers.

In summary, make sure you communicate with the key people and suppliers. Keep a diary or notes of events and actions and who you spoke with and when. Communication and a diary will be invaluable in the coming weeks and months.

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