Business Income Loss

Protecting Yourself and Your Employees After a Disaster

As a responsible business owner, you have likely taken out a business income loss insurance policy to help avoid financial ruin in the event of a disaster. This type of policy is intended to replace the business income during times when it is impossible to actually conduct business. One of the best known examples of where this is useful is during a natural disaster. If you own a business that needs to close for a week due to damage associated with severe weather, the policy will be there to replace the money that the business would have made.

What Business Income Loss Insurance Covers

While every policy is going to be slightly different, this type of insurance is generally designed to replace the money that would have been generated by the business. This typically includes:

  • Profit Loss – Any profits that would have been expected had the business been open. This is determined based on historical data.
  • Operating Expenses – Many operating expenses will continue even when the business is closed. This includes things like rent payments, electricity, security systems, ect. In many cases, this can also include expenses associated with paying employees who are out of work due to the claim.
  • Temporary Location – If you choose to reopen your business at a temporary location, the insurance policy will typically cover the added expenses associated with working at this location.
  • Reduced Business – If you are able to keep your business open in a partial capacity, the insurance policy will pay the difference in what you should have made if the business was fully operational.
Don’t Waste Time Battling an Insurance Company

Insurance companies know that business owners are going to be especially busy during times when they are making claims on these policies. With this in mind, they sometimes try to offer very low claim payouts, hoping that you won’t have the time to fight with them to get what you are owed. Rather than settling, or wasting the time yourself, you should let E. Jones & Associates handle the insurance company on your behalf. We will work hard to ensure you get every dime that is coming to you, and stop the insurance company from delaying or denying your claims. Contact us to let us battle the insurance company for you.