A Commercial Property policy will pay to repair or rebuild your building after a covered loss occurs, but how will you keep your business afloat while repairs are being made? Rebuilding after a complete loss can take months. That’s where Business Interruption coverage comes in.
A Business Interruption policy is like short-term disability coverage for your business property. It reimburses you for lost revenues and profits while repairs are being made to your building.
And, just because your building is damaged, doesn’t mean you’re allowed to stop paying your bills. That’s why Business Interruption also pays for your continuing expenses.
Here’s a great example of Business Interruption coverage in action for a coffee shop in New York.
You can also purchase Extra Expense coverage that will pay for things like a temporary location for your business operations and advertising costs to get the word out that your business has a new home for the time being. This is especially important for businesses that are heavily dependent on their location like grocery stores, restaurants or warehouse operations.