What Is Interruption Coverage Under Your Rhode Island Commercial Insurance?

Category: Blog

A natural disaster that
destroys or causes serious damage to your business premises can mean that
business income is reduced significantly. Your Rhode
Island commercial insurance
may provide compensation for business
interruption following an insured disaster.

A business that suffers
a disastrous event such as a fire or severe hail storm faces a number of
challenges.

1. The business premises
have been destroyed or damaged. There is a need to find and move into temporary
premises to use while repairs or rebuilding work is done.


2. Items such as
furniture and machinery may have been damaged or destroyed. These need to be
replaced, and in the case of a highly specialized business with professional
equipment, replacing vital equipment may take weeks or even longer.


3. Business records may
have been destroyed. Information about current work in progress, marketing and
other historic data may have been lost.

Any of these
difficulties can prevent a business from operating normally and it is
inevitable that business income will fall, at least temporarily. Business
interruption insurance (also called business income insurance) may provide
protection from the financial consequences of serious damage to business
premises.

Does your Rhode Island commercial insurance
provide protection for business
interruption
? Read the terms of your policy and speak to your insurer or
agent if you are uncertain whether business interruption insurance may benefit
your business. With Podmaska Insurance Agency, you’ll be getting a coverage you
need at an affordable price. What more could you ask for? Contact us today for
more information!

 

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