The Value of Business Interruption Insurance

4/22/2020 (Permalink)

Reducing the time of business interruption is in everyone's best interest

Business interruption for your company in Mission Bay, FL, puts years of hard work in jeopardy. Suddenly being unable to sell products or services not only causes extreme stress but it can also quickly deplete any financial reserves you have set aside. A regular commercial insurance policy will help you cope with the expenses of a business fire, but it will not cover lost revenue. A serious fire could put you out of commission for days, weeks, or even longer. Because of these factors, it's worth looking into a policy that protects you in case you have to close your business for a period of time.

The Benefits of Good Insurance

A policy that covers expenses due to a business interruption can be a lifesaver. Here are some features of this type of coverage:

• Provides replacement of lost revenue for a period of time
  
• Is added to your regular commercial policy
  
• Provides for covered perils such as fires and storms
  
• Pays out until the end of the interruption as determined by the policy
  
• Covers fixed costs of operations and incurred costs due to the disaster
  
  

To learn more about this type of insurance, contact your insurance agent. This coverage can allow you to meet payroll, cover loan payments, and survive a fire.

The Benefits of a Fast Cleanup
When a fire strikes your company, you want to get back in business again as quickly as possible. A local fire remediation company can be at your property within hours of the fire and will work to make the fire cleaning process as fast as possible. Powerful equipment and trained technicians can repair the damage, remove standing water, and get rid of the mess and odors associated with a fire. Reducing the time of business interruption is in everyone's best interest. A quick recovery allows your company to get the revenue stream flowing again.