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Imagine this: a fire seriously damages the structure of your office. You’re forced to shut down for three months as repairs are made. Would you be able to incur all of the costs — your mortgage or rent, payroll, taxes, and more — without any revenue coming in?

Business Interruption Insurance (also known as business income insurance) is a critical component of any Businessowners Policy. This type of insurance covers the loss of income that a business suffers after a disaster. The income loss covered may be due to a disaster-related closing of the business facility or due to the rebuilding process after a disaster.

Here are some things that could be covered under your Business Interruption Insurance policy:

  • Mortgage or lease payments
  • Taxes
  • Payroll
  • Advertising
  • Utilities bills
  • Cost of renting a new business space

In addition to covering normal operating expenses, Business Interruption Insurance also helps replace lost net income, based on your business’s previous financial records. Extra Expense Insurance provides another layer of protection, covering any necessary expenses incurred during the period of restoration that would not have been incurred had there not been a direct physical loss or damage to your property.

Quincy Mutual Group’s Businessowners Coverage Form includes business income coverage for up to a year on an actual loss sustained basis. In other words — you don’t have to go through the process of determining a separate limit because there is no maximum limit. You will have coverage for your actual loss of business income for up to 12 months when you purchase a Businessowners Policy through Quincy Mutual Group.

Have more questions about protecting your business? We work with over 500 independent insurance agents who are ready to help! Visit our website to connect with a local agent near you:bit.ly/QuincyFindAgent.