Business Interruption Insurance covers the loss of income that a business suffers after a disaster. This insurance helps to replace lost revenue and covers operating expenses while your business is temporarily closed or unable to operate at full capacity.
Business Interruption Insurance typically includes the following coverages:
Any business that relies on a physical location or has significant overhead costs should consider Business Interruption Insurance. This coverage is especially important for businesses in industries like retail, hospitality, and manufacturing.
Most Business Interruption policies do not cover pandemics, as these are often considered exclusions. However, it's important to review your specific policy or consult with your insurance provider.
Coverage typically lasts until your business resumes normal operations or reaches a specified time limit, which is determined by your policy.
Yes, Business Interruption Insurance is often bundled with Property Insurance, as they complement each other in covering physical damage and the resulting financial impact.