Business Interruption Insurance/Extra Expense Coverage
Business Interruption (also known as Business Income) insurance replaces business income lost as a result of an event that interrupts the operations of the business due to a cause of loss covered in the property/casualty policy, such as from fire or a natural disaster. Business interruption insurance is not sold as a separate policy, but is either added to a property/casualty policy or included in a comprehensive package policy.
Extra Expense is a form of commercial property insurance that pays for additional costs in excess of normal operating expenses that an organization incurs to continue operations while its property is being repaired or replaced after having been damaged by a covered cause of loss in the underlying property/casualty policy. Extra expense coverage can be purchased in addition to or instead of business income coverage, depending on the needs of the organization.
When your business facility is closed, in the process of being rebuilt, or your company is relocated due to an unfortunate incident, the company needs time and money to get its standard operations going again.
Nevada Partners Insurance is familiar with these specific exposures and can guide you to determine the right policy for your business.
If your company needs Business Interruption Insurance and/or Extra Expense coverage, call one of our experienced agents today or request a quote below.