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That’s an excellent question, and it’s a question asked by many business owners like you.
 

Business income insurance (sometimes called business interruption insurance) can make the difference between “life and death” of a business following a catastrophic loss. It can be as vital to your survival as fire insurance on your buildings and personal property.

 

Most business owners would never consider opening a business without buying insurance to cover damage due to fire and windstorms. But too many small business owners fail to think about how they would manage if a fire or other disaster damaged their business premises so that they were temporarily unusable. A business that has to close down completely while the premises are being repaired may lose out to competitors. A quick resumption of business after a disaster is essential.

Business income insurance compensates you for lost income if your company has to vacate the premises due to disaster-related damage that is covered under your property insurance policy, such as a fire. It covers the profits you would have earned, based on your financial records, had the disaster not occurred. It also covers operating expenses, like rent or mortgage payments, that continue even though business activities have come to a temporary halt. And, it pays for extra expenses you incur to expedite recovery or continue operations, such as a move to a temporary location.

Make sure the policy limits are sufficient to cover your company for more than a few days. After a major disaster, it can take more time than many people anticipate to get the business back on track. There is generally a 48-hour waiting period before business income insurance kicks in.

Business income insurance is surprisingly affordable. In fact, some package policies provide the coverage automatically without additional cost.

For more information about College Station business insurance give us a call at 877-807-1509.

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