Your business relies on employees, a phone system, computers and the internet to run each day. Imagine that a disaster takes them all out at once? What would you do? Are you prepared? Do you have a disaster plan in place?
Disasters resulting from fire, wind, ice, flood, hurricane, tornado or hazardous material spills can occur at any time. Business interruption insurance is frequently overlooked by many business owners. Some feel as though this coverage not needed. This is an untruth that unfortunately some business owners find out the hard way. Business Interruption insurance can be equated as disability insurance for a business. Property insurance only covers the physical loss or damage to the location and contents of a business. It does not cover the loss of income or associated fixed costs. Business Interruption coverage may make the difference between your business re-opening or having to close the doors forever.
When you purchase Business Interruption insurance some standard costs that are covered while your business gets back on its feet include: income, costs associated with moving your business to a temporary location and even equipment rental.
Business interruption coverage is not a blank check for every business disruption. Coverage is restricted to certain events so you should speak to your Agent to discuss the details of this coverage. If you experience a disaster it is also important to call in a professional restoration service as soon as possible to begin remediation to get back on your feet quickly. For more information on business interruption insurance for your business, visit us at www.fbinsure.com