Can You Handle Business Interruption?

Can You Handle Business Interruption?

Here’s why having business interruption insurance is a smart move for every company.

Even if you have the most extensive safety protocols and most comprehensive training programs in place, it’s simply not possible to protect your business from every threat that it faces. Unfortunately, your business is still susceptible to major catastrophes such as fire and natural disasters. When faced with these serious threats, your business’s operations might come to a halt. While you likely have the insurance coverage to address any damages your business might face, the revenue you lose while out of business might spell the end for your company. The best way to protect your business in the face of these threats is by having the right business interruption insurance in place. Here’s what you need to know about business interruption coverage.

What is it?

Business interruption insurance provides your company with compensation to avoid loss of income in the event that your business is temporarily out of business as a result of a disaster event. Having this coverage can help you keep your business afloat even when it is not able to bring in normal revenue.

What does it cover?

Business interruption insurance policies are usually customized to address each individual company’s needs. However, these policies generally cover the profits your business would have earned if the incident did not occur. Additionally, this type of insurance will also cover your business’s normal operating expenses, such as your employees’ wages and your business’s rent. In some cases, business interruption insurance can even cover the costs of moving your business to a temporary location while your primary workspace is being repaired.

Having the right business interruption insurance is the best way to ensure that your company doesn’t collapse in the face of a major disaster. Want to get the right coverage to protect your business? Then contact the experts at Desert Empire Insurance. We are ready to assist you with all your coverage needs today.