Business Interruption Insurance
Coverage for Loss of Income and Operating Expenses
It’s probably taken a considerable amount of hard work and determination on the part of many people to build a profitable company, but what if it should come to a sudden halt?
A fire, extreme weather event, or major equipment breakdown could do just that. Would your company be able to continue to pay ongoing expenses while generating no profit? For how long? A few weeks? A month? Three months?
A shutdown can be more than an interruption. It can mean a prolonged closure and cause millions of dollars in lost earnings and extra expenses.
Most businesses wouldn’t operate without purchasing property insurance to protect their physical assets, but protecting the lifeblood of business—its income—is often an afterthought. This happens even though making it through a major loss is likely to hinge on the ability to pay ongoing expenses and absorb the extra expense to continue to operate.
Business interruption insurance, also known as business income protection, typically provides coverage for:
Loss of income
Operating expenses and other costs that continue after the shutdown
Extra expenses that allow a business to continue during restoration
Some policies also cover the moving and operating expenses that allow a business to operate from a temporary location.
Determining the amount of coverage your business should have, however, takes an expert that can walk through the financial ins and outs of your business with you and match your needs to a cost-effective policy.
As the nation’s premier specialty retail insurance brokerage company, Alliant Insurance Services has the expertise to develop a business-continuity solution that gets your company through hard times. Our experience in working with thousands of businesses has given us the ability to provide our clients with superior solutions and services they can rely on.