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Business Interruption Coverage? What is it?

Now days a business couldn't afford to lose hours or days even in the event of a loss. What happens if you have a fire and have to close your doors for 2 weeks for renovations or repairs? Or if a huge storm comes through and a tree falls on your establishment? How are you going to recoup that loss of revenue and customers? Will you be able to recover from that type of loss?

A property loss for any business can be devastating if there is no flow of revenue coming in. You may have to pay rent for a temporary location, customers might stop coming in to see if you're back in business. It could also trickle down to your staff and the service they are able to provide. A loss could make it very hard to recover from. A natural disaster, something completely out of your control, could affect not only your revenue, but it could cause your customers to start going somewhere else if they are not able to visit your establishment.


Enter Business Interruption Coverage. Depending on the policy you have in force, business interruption coverage could provide some compensation while you are temporarily closed. Business interruption insurance is an integral policy feature. If your property is damaged and you are forced to temporarily shut down or move locations, you might be able to recoup more than you think.


Items that might be covered could be:


* Lost cash flow and income

* Lost rental value

* Loss of use

* Loss of customers

* Cost of temporary commercial space


Although we all would like to avoid an insurance claim, business interruption coverage could give you the peace of mind in the event of a loss. It could provide you with funds you might otherwise be out. It could allow you the funds you need to get back up and running efficiently and quickly. It could allow you to sleep at night while you get things back up and running.


Talk to your agent. Do you have this coverage in place?  Let us give you peace of mind when you need it most. Make The Smooth Choice and give us a call!

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