Learn how business interruption insurance can reduce your losses after a disaster.
Your business is your livelihood. Protecting your business from disaster is of the utmost importance. When a disaster occurs, it can take a toll on your business operations. Take the necessary precautions to minimize your risk and help to cover losses after a disaster with the right commercial insurance coverage. Find out how business interruption insurance can help keep your business secure. Here’s what you need to know.
What is Business Interruption Insurance?
Life is unpredictable. Sometimes your business is damaged so severely that you must temporarily close your doors until repairs can be made. Such a closure can have a serious impact on your fragile business, resulting in major losses. Business interruption insurance, however, gives you the resources that you need to keep your business going.
What Does Business Interruption Insurance Cover?
Your business interruption insurance coverage gives you the resources that you need to minimize losses after a disaster. From helping to replace lost revenue to covering expenses such as rent and temporary operating costs, it helps give you the coverage that you need to keep your business up and running after a debilitating disaster. Keep in mind, however, that your coverage only kicks in after physical damage occurs after a disaster covered under your policy.
How Do I Purchase Business Interruption Insurance?
Business interruption insurance doesn’t exist as a separate policy that you can purchase. In order to obtain business interruption insurance, you must invest in either a commercial property policy, business owners policy, or commercial package policy. Once you purchase one of these types of commercial coverages, you’re able to add on business interruption insurance. Choose a policy that best fits your needs as a thriving business so that you can rest assured that you’re well protected.