How Does Business Income Coverage work?
In the most basic of terms, Business Income Coverage is protection against the loss of your income should anything happen to your business. For example, if a fire occurs on the property of your business and you are unable to operate and make money for a period of time, Business Income Coverage will make sure that you are still paid and have income. This kind of coverage not only protects you as a business owner, but also your employees and their income. Business Income Coverage policies and their limits, like most business coverage, are determined solely by the business owner/operator. There are a few things to factor into the makeup of your coverage.
Related Questions
- Do commercial policies include coverage for loss of business income, debris removal, power failure, frozen water pipes, water damage from frozen water pipes and collapse due to weight of ice and snow?
- How does business income insurance differ from other types of coverage?
- What is Business Income Coverage (Time Element)?
