What is Business Interruption Insurance?
Business interruption insurance protects you from losses when your business cannot operate as usual. Whether you run a large corporation or a local small business, unexpected events can wreak havoc on a company’s operations.
For example, if a fire damages your office building, your business interruption insurance supplements your revenue and other expenses while contractors make the necessary repairs. This coverage gives your business the safety net it needs when disaster strikes.
What Does Business Interruption Insurance Cover?
Your business interruption insurance covers lost revenue and several different operating costs during a company shutdown.
- Revenue: Your insurance policy will reimburse any revenue lost due to the shutdown.
- Mortgage or Rent: The cost of rent or the mortgage payment for your business’s operating space will be covered.
- Taxes: Your business interruption policy will help pay the necessary portion of any tax bills due while your business is not running.
- Employees: Your employee’s wages will be taken care of through your insurance coverage.
- Extra Expenses: If your employees need new training after a loss or your business needs to relocate permanently or temporarily, the costs will be covered by your business interruption policy.
Keep Your Business Protected
Unexpected losses are, unfortunately, part of being a business owner. Be sure to partner with a professional that will keep your business protected with the right commercial insurance.
Contact Steve Longenecker (303-808-9351, x2) at Mountain Insurance: Longmont to discuss your commercial insurance coverage options in Longmont, CO, or our neighboring communities.
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