Business Income Insurance 

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Business income insurance replaces loss of income

Business income insurance

Business income insurance


Business income insurance coverage replaces loss of temporary revenue due to a business being shutdown due to damage to physical property.  

The coverage applies for the time that it takes to replace or repair whatever it is slowing to stopping business income. 

Business Income Insurance

What Is Business Income Insurance and What Does it Cover?

Business income insurance provides a basic level of protection for small businesses and larger companies.

Insurance policies help a business in the event of a natural disaster, theft, and property damages that result from vandalism and cyber risks. 

When you purchase an insurance policy, you’ll also have the peace of mind that certain legal costs are covered when there is a lawsuit or legal proceedings.

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An insurance professional can evaluate your business’s needs and customize a policy that works best. 

Every policy is created to cover each company’s unique requirements by considering all risk factors, the cost of replacement of damaged goods, and contingency planning and backup systems in the event of an emergency.

Before you inquire about your company’s insurance needs, it’s essential to keep accurate records of monthly business income, including projected revenue and costs.

This information is helpful if there is an interruption in company operations, as the insurance policy would consider the cost of doing business.

What Types of Businesses Need Business Income Insurance?

Most owners and small businesses benefit from various types of insurance.

Business Income Insurance

Essentially, every company should have insurance coverage, as the most unexpected event may cost far more than a sole proprietor or small business can afford. 

Businesses that should consider business income insurance are, day spas, property managers, garage owners, and retailers. 

Companies that sell or trade expensive or commodity items are subject to legal action and other risks.

Such companies should protect themselves with insurance. Home-based or online companies are typically not required to have insurance coverage, as they have a lower instance of risk. 

Every entrepreneur would benefit from reviewing the insurance policy options for their business, ensuring they have the best protection for their company.

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