If you have commercial insurance already, consider adding business interruption to protect your resources further. A commercial property policy typically reimburses you for physical damage to your equipment, business property, and inventory. However, it won’t replace lost income if you have to close your business. Business interruption covers lost revenue and overhead costs until you can continue doing business. That can help you cover the lease or mortgage, pay your employees, and keep up with your taxes. Talk to a Sound Choice Insurance Agency Inc. agent in Lynnwood, WA, to learn more about business interruption.

What You Get From Business Interruption Insurance

BI can help your small to midsize business recover quickly from forced closures beyond your control. Every policy varies, but many BI policies include wildfires, for example. So, you may receive assistance with costs associated with operating offsite while your business property undergoes repairs. Ask your insurance agent about bundling BI with your existing commercial insurance policy. If the unthinkable happens, and you have to shut down your business temporarily, business insurance can make recovery more feasible. 

Business Interruption Versus Commercial Insurance

If you’re still confused about the difference between commercial property and BI, here’s an easy way to remember the difference. Commercial policies cover physical losses, but you need business interruption to receive reimbursement for lost revenue and ongoing expenses. Ask your agent to present policies covering relocation costs, employee wages, loan payments, etc. Keep in mind that BI doesn’t cover events not listed in the policy. You’ll need separate coverage for earthquakes, floods, and mudslides. Losses due to pandemics are also excluded from many policies.

Want a free quote? Contact the Sound Choice Insurance Agency Inc. team in Lynnwood, WA, to set up an appointment today!