Business Interruption Insurance
Your business suffers a covered loss (a tree falls onto your roof, a fire starts in the breakroom, etc.) that forces you to shut down operations. The income that you lose from being shut down could be covered under Business Interruption or Business Income insurance. If you’re forced to shut down due to a loss, Business Interruption insurance can help you cover your ongoing expenses like:
- Mortgage, rent or lease obligations
- Payroll
- Temporary Location setup
- Any extra expenses needed during a relocation
Not every policy includes Business Interruption insurance, even if yours does it’s important to note your limits and whether they’re enough to cover you after a loss. Here’s a few questions to ask yourself:
How long would it take for your business to get back up and running after a loss?
If you need to relocate, how quickly could you find a replacement location to continue operations?
How long might it take to replace specialized equipment used in your business?
Having a realistic answer to these questions can help you know how much coverage you need before a loss, instead of afterwards when it may be too late. Give our team a call today, we’ll help get you the right coverage type and amounts for your business.
