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A business interruption insurance covers for business loss of income due to unwanted and unpredictable circumstances they might face in the future. It is not a stand alone policy as it can be added in your business owners policy. Want to know more? Check out our blog https://www.agencyheight.com/business-interruption-insurance
2. According to U.S Bureau of Labor Statistics,
about 10.3 million people are expected to be self-
employed by the year 2026.
But what about the hurdles? There are
many obstacles that you need to overcome as a
businessperson.
3. What Is Business Interruption Insurance?
Business interruption insurance helps you cope
with loss of income if your business shuts down
temporarily due to unforeseeable events.
Business interruption insurance isnt a stand-
alone policy; you get it as an added endorsement to
a business owners policy.
4. What Does Your Business Interruption Insurance
Policy Cover?
A standard business interruption
insurance policy includes the following:
Lost income
Expenses
Relocation
Technological barriers
Taxes
Wages
5. Which Businesses Need Business
Interruption Insurance?
Every business could benefit from a BI policy. But
here are some businesses which MUST have it:
Landscaping business
Photography business
Food/restaurant business
Candle business
Construction business
Any startup
6. Some Things Your Homeowners Insurance Will Not
Cover
Not typically included in standard home insurance are:
Natural disasters
Pets
Cars
Commercial property
7. Insurance Companies That Provide BI Insurance
Insurance
Company
Key Feature
Nationwide Best in customer satisfaction.
State Farm Customizable polices for restaurant/food
businesses.
Travellers Wider range of coverage against various
perils.
Farmers Insurance All basic business policies include BI policy.
The Hartford Best for businesses which have a lot
of costly equipment.
8. Factors Determining The Cost Of Premiums
Business location
Claim history
Business size and type
Safety measures of the business
9. Make sure you have a good protocol to protect your business. Invest in business
interruption insurance today by contacting our seasoned agents.