Answers to Basic Questions About Interruption Insurance

1/11/2019 (Permalink)

Flooded room in a Vancouver, WA office

Even if you've taken all the appropriate steps, your Vancouver, WA, business could still be affected by fire. When this happens, one of the most worrying aspects of the situation is how much money you could lose because of business interruption. Fire isn't the only emergency that could put your business in danger; other financial perils could include extreme weather, hail, windstorms, tornadoes, flooding, and other circumstances that may temporarily close your business. Protect your business with interruption insurance.

What Is Included in the Coverage?

Standard property insurance covers a lot of the physical damages and losses that fire leaves behind, but it doesn't cover everything. There are three main things that business interruption policies cover that your property insurance probably won't.

• Profits you would have earned during the time period
  
• Operating expenses you're still obligated to pay, such as rent
  
• Moving costs to your temporary location
  
  

Sometimes this type of insurance is called business income insurance.

Who Qualifies for Coverage?

Sadly, there are business owners who don't qualify for this protection. One of the primary qualifications for this type of insurance is a dedicated commercial location. If you run a small business out of your home, you probably won't qualify for the policy. However, you may be able to get a business owner's policy. Other aspects of your business that may affect your eligibility include the type of industry, your history of business interruption claims, and the location.

How Long Does the Interruption Coverage Last?

Fortunately for many business owners, interruption insurance is available for the entire period of restoration. This is defined as the length of time necessary for repairing, rebuilding, and replacing any of your property that is damaged or destroyed. It's a good idea to find out exactly what is covered before you talk to the fire restoration professionals.

As you put safety procedures in place and provide training for your employees, don't forget to research interruption insurance in Vancouver, WA. You'll want the peace of mind that comes from knowing your business won't fail when disaster strikes.