'Business Interruption' insurance is designed to protect your business from losses that occur when you are temporarily unable to operate due to a covered event, like a natural disaster, fire, or major theft. This coverage helps to compensate for lost income and fixed expenses during the period of restoration or repair.
Imagine your insulation contracting business suffers damage due to a severe storm, rendering your workspace unusable. While repairs are underway, you're losing income every day your business remains closed. Business Interruption insurance kicks in here, covering your lost income and helping to pay ongoing expenses like rent and salaries, until you're back up and running.
The value of Business Interruption insurance includes:
- Providing financial support to cover lost income and operating expenses during an unexpected closure.
- Helping to ensure business continuity and stability in the face of unforeseen events.
- Allowing you to focus on restoration efforts without the added stress of financial losses.