Business Interruption Insurance
Whether you have been in business for decades or just opened your doors, there are insurance coverages that you should explore and consider as your business grows. While not all of the many business insurance policies are required, you should be aware of them and understand when they are right for your business and how they can best protect you and your business.
What is Business Interruption Insurance?
Business Interruption Insurance (BII or Business Income Insurance) protects against earning or income losses when a company suffers a disaster. These temporary business stopping events can include fire, flood or many other unforeseen events. Business interruption insurance covers the income you would have earned, based on your financial records, had the disaster not occurred. BII also covers monthly expenses, like utilities and rent, that continue even though business activities have come to a temporary halt. Business interruption coverage is generally not sold separately. It is bundled with your property insurance policy or included in a package policy.