Business Interruption Insurance
Business interruption insurance is insurance coverage that replaces income lost in the event that business is halted due to direct physical loss or damage, such as might be caused by a fire or a natural disaster. Business interruption insurance aims to put your business back in the same trading position it was in before the event occurred.
Benefits of a business interruption policy vary by policy type and very often by industry. If a covered loss forces your business to shut down, your interruption insurance can help cover your operating expenses during that period, like:
- Revenue
- Mortgage, Rent & Lease payments
- Loan Payments
- Taxes & utilities
- Payroll
- Supplier costs
- Relocation Costs
- Training Costs
- Extra Expenses (As per the policy)
