Business Income / Business Interruption Insurance
Business income insurance, also known as business interruption coverage, protects your business from financial losses when operations are suspended due to a covered property damage event. This coverage replaces lost net income, pays ongoing operating expenses like payroll and rent, and covers extra …
Key Coverages for Business Income / Business Interruption Businesses
- Lost net income during the restoration period
- Continuing operating expenses such as payroll and rent
- Extra expense to minimize business interruption
- Civil authority coverage for off-premises events
- Extended business income after reopening
- Contingent business interruption for key suppliers
Frequently Asked Questions
How long does business income coverage last?
Business income coverage typically lasts for the 'period of restoration' — the time reasonably required to repair or replace damaged property. Most policies include a 30-day extended period of indemnity after reopening to account for ramp-up time. Ex…
Does business income cover pandemic-related closures?
Standard business income policies require physical damage to trigger coverage and typically exclude virus and communicable disease. However, some carriers offer specialized endorsements or standalone policies that address specific pandemic-related bu…