Why You May Need Business Income Insurance

If you have a small business and there is any risk that business could close temporarily, you need business income insurance, also known as business interruption insurance. Here are some scenarios in which you might consider this coverage.

Could your office be damaged by a fire?

No one plans a fire, but it can happen. And if it happens to you, business income insurance can cover rent, payroll and tax payments during the restoration period.

Could theft of your equipment make it hard to work?

No business owner plans to have equipment stolen, but what happens if your computers, services and printers are stolen? How long would it take you to get up and running again? By covering your lost income until you can reopen again, business income insurance can help you continue to pay operating expenses.

Do you have employees who need to be paid?

Unless you’re a sole proprietor, you have employees who rely on a paycheck. Business income insurance can make payroll when you are temporarily shut down.

Do you need to pay rent or a mortgage?

Almost all businesses (except those that are home-based) pay rent or mortgages. Business income insurance can make those payments when you are temporarily shut down.

Business income coverage may be included in another type of policy or can be purchased on its own. The best way to find the right coverage is to discuss your specific needs with us so you can get coverage tailored to your circumstances. Call or email us today.