Importance of Including Business Interruption in Commercial Insurance

In the case of a natural disaster or fire, you could remain closed for some time. If this happens, and you have business interruption insurance, you can receive coverage to help you pay for operating expenses until you open your doors again. At Storey Insurance in Senatobia, MS, we have agents ready to discuss all of your commercial insurance needs.

What Is Business Interruption Insurance?

This type of coverage, also called business income insurance, can help your small business recover from suspended operations. It works in conjunction with commercial liability and property insurance, and you can meet with one of our agents to ensure that you include this in your policy.

Why Do You Need Business Interruption Insurance?

Depending on how your policy is written, business income insurance may cover fixed expenses, including expenses to operate elsewhere while your business location undergoes repairs and restoration. This insurance also compensates you for lost revenue while your business remains closed. Ask your insurance agent how to bundle business interruption with other coverage for peace of mind and economic security.

What Does Business Income Insurance Pay For?

This coverage doesn’t replace commercial property insurance, which pays for physical damages. Instead, it covers lost income while you remain closed for repairs. Depending on your specific policy, business income insurance may also cover lease payments, employee wages, relocation costs, loan payments, and taxes.

Note that business interruption insurance doesn’t cover losses due to earthquakes, flooding, and other events that require a separate policy. Typically, it doesn’t protect your business from losses due to pandemics or other health emergencies.

Contact Storey Insurance in Senatobia, MS, for assistance in setting up business interruption insurance for your business.