Business Interruption Coverage | Insurance Explained скачать в хорошем качестве

Business Interruption Coverage | Insurance Explained

For more information: https://www.watkinsinsurancegroup.com/ Insurance experts estimate that Business Interruption coverage is one of the most valuable coverages available. Yet business owners often overlook it. Since Property Insurance only covers the cost of physical loss or damage and contents of a business in the event of a disaster, Business Interruption is invaluable in covering the loss of income while the permanent business location is being repaired. If a fire causes your building to be temporarily unusable, what would you do next? Ideally, you would move to a temporary location while your permanent place of business is being repaired. Yet, traditional Property Insurance does not cover this move or a loss of income when a business must temporarily close. With Business Interruption coverage, this setback can be minimized by simply adding this coverage to your Property Insurance policy. What’s covered under Business Interruption? • It provides compensation for lost income if your business has to vacate its premises as a result of disaster-related damage covered under a Property Insurance policy. • It covers the profits that would have been earned based on previous financial records, had the disaster not occurred. • It covers operating expenses, such as utilities, that must be paid even though business is temporarily ceased. • It also covers expenses of operating in a temporary location while repairs to the permanent location are completed. A few things to think about if your business is considering Business Interruption coverage: • Business Interruption cannot be purchased on its own. It must be added to a Property Insurance policy or included in a Business Owner’s Insurance policy. • Policy limits should be sufficient enough to cover a large amount of time to rebuild the permanent business space. • Price of coverage depends on the risk of disaster to the premises. This may depend on the business location, nature of the business and how easily the business could function at an alternate location on a temporary basis. ~-~~-~~~-~~-~ Please watch: "What Are Deepfakes?"    • What Are Deepfakes?   ~-~~-~~~-~~-~