Should You Get Business Interruption Coverage for Your Small Business?

As a small business owner, you’re responsible for the daily operations of your enterprise. Interruptions in your business flow can reduce your bottom line. If your business had to close down due to an unexpected catastrophe, you could suffer substantial financial loss. With business interruption coverage, however, your business can be protected against unforeseen disasters.

Here are a few ways business interruption insurance from Coastal Wealth Insurance, LLC in Fort Lauderdale, FL can work for you:

  • Lost Revenue and Wages: If your small business were to close temporarily due to a tropical storm or fire damage, the business interruption would help cover the loss of income while you are making repairs. It also covers employee wages, so you don’t lose valuable personnel while your business is closed.
  • Rent/Lease: Despite damage to your office or warehouse from a catastrophe, you’re still responsible for rent or lease payments. Business interruption insurance provides funds to help you continue making these payments until you can get back on your feet.
  • Loan Payments: Business interruption also covers outstanding business loan payments until you can get your business back in operation. This saves you from having to make these payments out of pocket.
  • Relocation: If you choose to relocate temporarily to keep your business open while your primary office or warehouse is being repaired, business interruption insurance will help cover moving and rental costs of your temporary location. Opening your business in a new location enables you to continue generating income while your permanent office is being repaired.

With business interruption coverage, you need not worry that your small business in Fort Lauderdale, FL will go under if an unforeseen disaster causes you to shut down temporarily. To learn more about business interruption coverage and costs, contact a local agent from Coastal Wealth Insurance, LLC.