Frequently Asked Questions

ISR is a broad-form commercial insurance product that combines property damage and business interruption cover into one policy. It operates on an "all risks" basis - covering everything except specifically excluded events - making it the most comprehensive commercial property insurance available in Australia.

Any business with commercial property, stock, or equipment should consider ISR. It's particularly suited to manufacturers, warehouses, retail stores, hospitality venues, healthcare facilities, and any business where property damage could interrupt operations and revenue.

A business pack covers specifically named perils (fire, storm, theft, etc.). ISR covers everything on an "all risks" basis - only what is specifically excluded is not covered. ISR also typically includes business interruption as standard, while business packs often require it as an add-on.

Premiums depend on your sum insured, property construction, location, fire protection, business type, and claims history. ISR can be surprisingly competitive - especially when you compare it to the combined cost of separate property, business interruption, and other individual policies.

"All risks" means the policy covers loss or damage from any cause that isn't specifically excluded in the policy wording. This is the opposite of "named perils" policies, which only cover events that are specifically listed. All risks gives you broader, more reliable protection.

Yes, ISR typically covers storm, flood, earthquake, and bushfire damage. However, some events may have sub-limits (a cap on the payout) or higher excesses. Your broker will ensure your policy is adequately structured for your area's specific natural hazard risks.

Business interruption cover compensates you for lost revenue and ongoing expenses when an insured event (like a fire or flood) forces your business to stop or reduce operations. It typically covers gross profit, wages, increased costs of working, and additional expenses incurred to get back up and running.

The indemnity period is the maximum length of time your business interruption cover will pay out after an insured event. Common options are 12, 18, 24, or 36 months. Choosing the right indemnity period is critical - it should reflect how long it would realistically take to fully restore your business operations.

Yes, machinery breakdown is a common extension on ISR policies. It covers sudden and unforeseen mechanical or electrical breakdown of plant, machinery, and equipment. Without this extension, breakdown (as opposed to external damage) would typically be excluded.

Contact your broker immediately after any incident. We'll guide you through the process, help document the loss, and manage communication with the insurer on your behalf. Early notification is important - most policies require you to report potential claims as soon as reasonably practicable.