What Is Interruption Coverage Under Your Rhode Island Commercial Insurance?

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!