Can You Insure Income for Your Business?
Business owners face a myriad of challenges on a daily basis. There are technological changes, new competitors, disruptions and other threats. Even if a business owner doesn’t own the property they conduct business from, there are still threats to losses from theft, fire and a host of other calamities. Not only can inventory, information, and equipment be at risk, the business may have to be shut down while restocking or rebuilding. Is there insurance that will cover this loss of business? Can you insure income for your business?
The good news is yes. Business income insurance can help. When income to a business is interrupted because they can’t open their doors after a calamity, income interruption insurance can use past performance as a way to replace that interrupted income. Anticipated income can be projected and covered by the policy. There are other benefits as well. Business income insurance can help pay taxes due through the period, utility bills, rent or mortgage payments and even payroll. This can all be critical in making sure you can re-open your doors.
Protecting your company’s assets from losses and protecting yourself against liability claims is critical for any business plan. But businesses should also inquire about business income and business interruption insurance. This can safeguard a company’s future by making sure it can survive while needed repairs are made, even if it means relocation.
We encourage you to contact us and see why business income insurance should be a part of your company’s loss prevention plan. As independent agents, we’ll explore your options from a variety of insurance carriers to find the plan that is appropriate and affordable. It is just one reason having your business insured through an independent insurance agency offers such value.
Could your business survive without income for a month or two? Could it survive the costs of relocation? Could you keep qualified employees on the payroll? If not, the time to secure coverage is now. Let our independent agents go to work for you.