One of the most overlooked business coverages is Business Income.
Imagine a covered fire damages your business location and you cannot operate for several months.
You may still have expenses such as:
- Payroll
- Rent
- Loan payments
- Utilities
- Taxes
- Certain ongoing operating costs
Business Income coverage may help replace qualifying lost income and continuing expenses following a covered loss.
Coverage normally depends on a covered cause of loss.
It does not generally cover ordinary business slowdowns or loss of customers without an insured event.