Christchurch business-owners are feeling the stress as their business interruption insurance runs out, according to a survey by business assistance group Recover Canterbury.

Spokeswoman Renee Walker says 95% of firms are operating, but 64% of them have experienced a decline in revenue and most blame a lack of customers.

The inner city “red zone” is still cordoned off and the high value of the New Zealand dollar is also deterring tourists.

Ms Walker says one of the biggest problems is that only 40% of businesses have business continuity insurance. 

“Of those with this cover, over a quarter had insurance that would last less than six months, with slightly less than 10% holding cover that would last 18 months,” she said.

The survey of 201 businesses last month found 36% of firms were waiting for a claim to be settled.

Ms Walker says although the “red zone” cordon is continually shrinking, many owners still cannot get into their premises to remove plant, equipment and stock, so they can’t start trading elsewhere.

“A number of them are having issues because of depopulation, particularly for those businesses still in cordoned-off areas. A lot of them are getting some amount of insurance relief but it can be as little as 10%. They may have been expecting they were covered and would be okay, but are only getting a percentage of their usual takings.”