Auto Insurance AUTO

Auto insurance protects you against financial loss if you have an accident.

Read More
Homeowners Insurance HOME

A standard policy insures the home itself and the things you keep in it.

Read More
Motorcycle/ATV Insurance MOTORCYCLE/ATV

Browse a variety of insurance options in order to find the right one for you.

Read More
Boat Insurance BOAT

Finding insurance doesn't have to be difficult. We do the work for you.

Read More
Business Insurance BUSINESS

Discover the perfect insurance options to meet your specific and unique needs.

Read More
Farm Insurance FARM

Learn about different farm coverage options that fit your needs.

Read More

Sorry We're Closed SignEvery once in a while, your business might need to close for an extended amount of time. During that time, you will still have expenses. You will need to pay for utilities, meet vendor demands, and keep employees covered while they cannot work.

Your business insurance policy can often lend you a helping hand in this situation. Specifically, business interruption insurance may provide the financial support you need to ensure your expenses remain intact while your business is not operational.

When Does Business Interruption Insurance Apply?


Business Interruption Insurance is not applicable all the time. It generally only helps cover long-term financial concerns related to your company's covered risks.

This coverage becomes accessible when an accident or unpreventable occurrence temporarily shutters your company. Some common instances include:

  • Fires that lead to the need for substantial renovations and repairs.
  • Flooding caused by broken pipes.
  • Structural repair or the replacement of equipment lost in theft or vandalism.

When Is Business Interruption Insurance Available?


There is often a waiting period for Business Interruption Insurance to become available. This waiting period could be as little as 48 hours or more than a week. However, once the policy is available, you can cover many of your expenses. This may include expenses related to:

  • Paying employees
  • Covering vendor costs
  • Paying mortgages or other loans
  • Temporarily relocating your business
  • Covering inventory replacement or management

How Much Money Will My Business Receive?


Remember, the amount of money you receive from insurance during a business interruption can vary. Most of the time, the policy will only pay out a set amount of money. Your insurer generally determines that sum based on the income your company would have received during that timeframe if it was open. This estimate is most often based on revenue from the previous year or from the average revenue from the weeks leading up to the incident.

Will your business need to close due to a covered incident? If you have Business Interruption Insurance, you might not lose out on the revenue you need. Work with your insurance agent to ensure you get the right policy to meet your specific needs.

Mitchell Insurance Agency can help you get the business insurance you need to protect closures. Call us at (940) 586-1273 for a fast, free Wichita Falls business insurance quote.
Share |


No Comments


Post a Comment
Name
Required
E-Mail
Required (Not Displayed)
Comment
Required


All comments are moderated and stripped of HTML.
Submission Validation
Required
CAPTCHA
Change the CAPTCHA codeSpeak the CAPTCHA code
 
Enter the Validation Code from above.
NOTICE: This blog and website are made available by the publisher for educational and informational purposes only. It is not be used as a substitute for competent insurance, legal, or tax advice from a licensed professional in your state. By using this blog site you understand that there is no broker client relationship between you and the blog and website publisher.
Blog Archive


View Mobile Version
Facebook
LinkedIn
Google+
Allstate
Progressive
The Hartford
Safeco
Foremost
National Lloyds
Unitrin
© Copyright 2017. All rights reserved.
Powered by Insurance Website Builder