Protecting Businesses from Loss of Income
Business Income coverage is a type of commercial property insurance that protects your business against the loss of income when operations are halted due to property damage from a covered event. While most businesses are insured for the cost of repairing or replacing damaged property, many overlook the income lost during these interruptions.Â
Business Income (BI) coverage fills this gap. It reimburses you for lost income while your property is being repaired or replaced. The policy can also be extended to cover extra expenses incurred as a result of the loss, such as the cost of moving to and operating from a temporary location.Â
A licensed insurance agent at The Hilb Group can provide you with comprehensive information on this important protection for your business.Â
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