If you were forced to shut down, could you still cover your operating expenses?
Business Income Insurance
Business Interruption Insurance helps you pay bills, replace lost income and cover payroll when a covered event forces your business to close temporarily. If your business is forced to move or rebuild because of a disaster such as a fire, business interruption insurance can help reimburse you for lost profits, mortgage/rent, utilities, taxes, payroll, advertising and relocation fees.
- Revenue you'd normally make if your business was open.
- Mortgage, rent and lease payments for the space your business operates from.
- Loan payments that you need to make during that time.
- Taxes, whether you pay them monthly or quarterly.
- Payroll for your employees.
- Relocation costs if you have to move to a new or temporary location because of physical damages.
- Extra expenses if, for example, you need to rent another space to temporarily run your business after a covered loss.
- Training costs for employees to learn how to use new machinery or equipment after a covered loss.
What's Not Covered
- Broken items resulting from a covered event or loss.
- Flood or earthquake damage, for which you'll need a separate policy.
- Undocumented income that's not listed on your business' financial records.
- Utilities, because they're usually turned off when your business closes due to damage.
- Communicable diseases that cause a shutdown in your operation.
Interested in an insurance proposal at no obligation or cost?
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