Business Income Insurance

 Business Income insurance also known as business interruption insurance covers the loss of income resulting from a fire or other catastrophe that disrupts the operation of the business.  This protection allows business owners to recover income and optionally extra expense costs while waiting for busines operations to be restored.  Business interruption covers the profits you would have earned based on your company’s financial records had the disaster not occurred.  This type of coverage normally has a 48 to 72 hour waiting period or deductible.

The extra expense optional coverage will reimburse your company for expenses incurred to operate from a temporary location and avoid having to shut down during the restoration period.  This could include rental space, computers, machinery, furniture and other items necessary to continue working. This type of coverage normally has a 48 to 72 hour waiting period or deductible and can be added by endorsement to a commercial property or business owner’s insurance policy. Do I need business interruption insurance?

Business interruption insurance is necessary to your survival as a business.  Too many business owners fail to think about how they would manage if a fire or other disaster damaged their premises so that they were unusable temporarily.  A business that has to close down completely while the premises are being repaired may lose a significant amount of revenue to competitors.  A quick resumption of business after a disaster is essential.

For more information, Contact Us or call 423-926-7151.