The purpose of business interruption insurance is to help cover income loss during a period of interruption. It allows businesses to continue operations, manage ongoing expenses and recover from setbacks more quickly. By safeguarding against the financial impact of interruptions, business interruption insurance ensures business continuity, helps maintain customer trust and provides peace of mind to business owners, allowing them to focus on rebuilding and getting back on track. 

What Is Business Interruption Insurance? 
Business interruption insurance, or business income insurance, protects businesses from financial losses resulting from interruptions or disruptions to their everyday operations. It helps cover lost income and helps businesses cover ongoing expenses when they cannot operate due to covered perils, such as fire, natural disasters, equipment breakdown or other unforeseen events. Business interruption insurance typically covers the profits an organization would have earned without disruption and fixed expenses like rent, utilities and employee wages. 

What Does Business Interruption Insurance Cover? 
Business interruption insurance is primarily designed to cover the financial losses a business may experience due to a temporary interruption in its everyday operations. The following are key areas that business interruption insurance aims to cover: 

• Lost Income
• Ongoing expenses
• Temporary relocation costs
• Extra expenses (e.g., overtime wages, expedited shipping or costs associated with finding alternative suppliers) 

It’s important to note that each policy may have specific terms, conditions and coverage limits, so reviewing the policy and understanding its coverage details is essential. 

How Does Business Interruption Insurance Work? 
Business interruption insurance typically pays out if the cause of the business income loss is covered in the underlying property/casualty policy. The policy has coverage limits, and the amount an insurer pays is determined by assessing the business’s financial records before and after the covered event. There’s typically a waiting period before coverage begins, and premiums vary depending on factors like the type of business and location.  

Business Interruption Coverage in Miami, Homestead and Coral Gables, FL 
Contact Choice One Insurance to discuss your business insurance needs. We can help ensure you have the coverage you need.