Ask anyone who runs their own business, and they will tell you it is no cakewalk. It may seem great to be your own boss, run a business, and make decisions, but it also brings a lot of stress and potential mishaps should unfortunate events occur. Whether you live in West Hartford, CT or Los Angeles, CA, things happen, and it is essential to be ready. The team at AllConnecticut Insurance is here to help you understand business interruption coverage and much more!
The Concept of Business Interruption Insurance
The whole idea behind business interruption insurance is that it provides coverage if your business needs to shut down for a set period.
The most straightforward example for business owners to wrap their heads around is a situation where you run a retail store, and something occurs to the building. Say, for example, a tree were to fall on your store, and you cannot open it, your inventory is damaged, etc. This is the type of thing that business interruption will help you cover.
Recovering Lost Income
So what exactly are you recovering from your West Hartford, CT business when you are filing for a business interruption policy claim? It all comes down to lost income. The income you were projected to bring in during that period is what you will be eligible to receive back up to your limits per the policy.
The team at AllConnecticut Insurance is here to help you understand business interruption coverage. It can be a tricky topic, but businesses of all sizes must understand and use it as a tool to alleviate risk.