A Look at how Business Interruption Insurance Can Help You in the Event of a Disaster | SERVPRO of Bartow County

7/23/2021 (Permalink)

Call SERVPRO of Bartow County 24-hours a day or visit www.SERVPRObartowcounty.com for more information on commercial restoration services.

As a business owner, you hope that you can continue to work toward your future and invest in your business without interruption—but sometimes, Mother Nature has other plans. Events like natural disasters can come about suddenly and cause serious damage to commercial spaces, prompting serious repairs and even closures in certain scenarios.

While this is something that would be unfortunate in any circumstance, for the under-insured business owner, it could be downright devastating. Below, we will be taking a look at how business interruption insurance can help you through these types of pitfalls so you can reopen your doors quickly after an emergency situation.

What Is Business Interruption Insurance?

Business interruption insurance is designed to provide coverage to your business if it can't operate due to a covered event such as a natural disaster. It ensures you can still pay your overhead and static expenses, even when your business is unable to generate revenue during repairs.

What Is Covered by Business Interruption Insurance?

While all policies will vary, business interruption insurance will generally cover the following:

• Estimated profits the business would have accrued during the closure period, based on
• statements provided by the business owner
• Fixed costs, such as rent, licenses and taxes that are due regardless of the operating status
• Employee wages to retain your staff
• A temporary operating location in some cases so you can resume operations
• Extra expenses related to the closure

Do I Need Business Interruption Insurance?

While ultimately, the decision about your coverage is up to you, business interruption insurance is definitely something that every business owner is wise to consider. Making sure that you can

keep yourself afloat during times of closure can make all the difference in the future of your operations.

Often, for events like fire, flooding or storm damage, the process of repairs and reopening can take much longer than people anticipate—and if you do not have business interruption insurance, these closures can be extremely costly to pay out of pocket.

*If your business is damaged due to an emergency or disaster, SERVPRO of Bartow County can help you with your restoration quickly. Contact us 24/7 at(770) 387-7455 or visit www.SERVPRObartowcounty.com for more information.