3 Benefits of Business Interruption Insurance

1/24/2022 (Permalink)

Fire destroyed a commercial property in Arcadia, OK.

Business Interruption Insurance Offers Three Advantages

When a fire in Arcadia, OK, spreads to your business, many thoughts run through your mind. First and foremost, you want to ensure the safety of your staff and yourself. Once the flames are out, your focus turns to the building and contents. During the fire restoration process, it may seem like your life is on hold. Interruption insurance helps keep you afloat during this trying time. Here are three benefits of this add-on coverage.

1. Protect Your Investment

Property insurance usually covers the cost of cleanup and restoration. Fire restoration professionals assess the damage and often consult directly with your insurance company before the process begins. Depending on the extent of the damage, your business may be closed for an extended period. During this time of business interruption, there are still bills to pay. Interruption insurance covers operating expenses during reconstruction.

2. Cover Your Employees

While your business is closed for repair, it does not generate income. However, when you plan and have this specialized insurance in place, employee wages are covered.

3. Achieve Peace of Mind

The biggest benefit of add-on insurance for business interruption is peace of mind. Nearly half a million businesses fail per year in the United States. Although commercial property insurance typically covers restoration costs, bankruptcy can threaten even the savviest of business owners due to the related loss of income. With this protection in place, the chance of a fire shutting down your livelihood is far less likely.

Nothing is more devastating than a fire destroying your commercial property in Arcadia, OK. Your business may be closed for an extended time while fire restoration specialists remediate and repair damage “Like it Never Even Happened”. During this period, interruption insurance protects your investment and your employees. You can worry less about struggling to pay the bills and focus on getting your business back up and running.