3 Things You Should Know About Business Interruption Insurance

​Sometimes, a business does not open again for a long time after a calamity such as a hurricane, tornado, or fire. The main reason is a lack of or improper planning for strategic disaster recovery.

You must protect your business from a disastrous event that can affect your finances and how you run your business. Aside from creating the right planning, another way to protect your business is to invest in business interruption insurance. 

1. Make Plans For The Future
   It is essential to protect your business from any unforeseeable natural disaster. If you have business interruption insurance, your company will have the protection it needs during and after a catastrophic incident. 
   
   By having this kind of support and protection, your business will receive compensation after suffering from a disastrous event, thus avoiding loss of income. This will enable you to buy some time and get your business up and running again. Moreover, you can do this without closing your business operation permanently.
   
   
2. Determine Your Policy Coverage
   Considering that insurance is not a one-size-fits-all answer to your problem, business interruption coverage is not either. Every policy is different depending on your business. Understanding your coverage will help you protect your investment in the right way.
   
   Find out what is included in your coverage as well as the limitations. This can help you prepare well when meeting with your insurance agent. The agent will also know if your business needs additional coverage for maximum protection.
   
   
3. Know The Coverage You Need
   When it comes to business interruption insurance, how much coverage you need, depend on various factors, for example, the location of your business. If you have a few businesses in different locations, your insurer will evaluate each location separately. 
   
   After a calamity, your business will undergo a period of restoration, which also takes into consideration a few things such as if certain production equipment would need a long time to install or order, or if you need contractors to redesign your building. 
   
   Together with your insurer, create a custom plan for your business and determine the coverage you need as well as the intensity of risk that your company may face. 
   
   Make sure to address every area of your business that needs protection. Your insurance agent should work with you to ensure you obtain the right business interruption policy.

At Sherzer Insurance Agency, we do our best in making sure that our clients are well-protected with affordable and comprehensive policies. We make sure to go the extra mile to help you with your needs. To learn more about how we can help you, please contact our agency at (239) 673-9301 or Click Here to request a free quote.