Office Reconstruction

Getting your business back up and running after a loss is hard to do. As you rebuild and make office upgrades, you'll still have financial obligations to make. How can you manage those costs?

Turn to business interruption coverage. This type of coverage can provide you with the support you need to get your business back on track after a covered loss. It provides coverage to your financial obligations during the recovery time.

What Does Business Interruption Insurance Cover?

Business interruption insurance helps keep your business going while you make repairs. After a covered loss, you may need to move your business to another location, either temporarily or permanently, or you could need to shut down operations entirely until repairs are completed. During this time, this coverage can help with a number of needs.

  • It can help to pay your business-related utilities and lease payments, including your mortgage.
  • It can help to pay your employees. Businesses do not need to experience high turnover during these times.
  • It can help to keep your financial obligations in place for vendors and contractors.
  • It can help to cover the moving of your business to a temporary location.
  • It can provide other types of financial protection during this time.

As you can see, a business interruption insurance policy can help to keep your business operational, or at least financially managed. This, in turn, can help keep you from going out of business.

How Much Will It Pay You?

Business interruption insurance generally has a short waiting period. You may need to be unable to operate your business for a few days or weeks in order to qualify – depending on the policy terms.

Once this coverage goes into effect, it will continue to pay for agreed-upon fees. The amount usually depends on the expected sales for your business. Ask yourself how much would your business earn if it was operational during this time. Often your insurance agent will use information from the previous year to determine this amount.

Work with a Ten Eyck Group insurance agent today to be sure you are protected in the event of a loss. For more information, contact us today.

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