• About
    Us
    • About Us
    • Meet Our Staff
    • Our Insurance Carriers
    • Customer Reviews
  • Auto, Home &
    Personal Insurance
    • Auto Insurance
    • Boat & Marine Insurance
    • Condominium Insurance
    • Flood Insurance
    • High Net Worth Coverage
    • Homeowners Insurance
    • Motorcycle Insurance
    • Pet Insurance
    • Renters Insurance
    • – View All Personal
  • Business
    Insurance
    • Business Interruption Insurance
    • Business Owners Package Insurance
    • Commercial Auto Insurance
    • Commercial Property Insurance
    • Commercial Umbrella Insurance
    • General Liability Insurance
    • Hotel & Motel Hospitality Insurance
    • Manufacturers Insurance
    • Professional Liability (E&O) Insurance
    • Surety Bonds
    • Workers’ Compensation Insurance
    • – View All Business
  • Life
    Insurance
    • Individual Life Insurance
    • Final Expense Insurance
    • – View All Life
  • Policy
    Service Center
    • Online Billing & Payments
    • File A Claim
    • Certificate of Insurance Request
    • Policy Change Request Form
    • Auto ID Card Request Form
    • Insurance Resources
    • – View All Policy Service
  • Insurance
    Blog
  • Contact
    Us
    • Powell Office
    • Refer a Friend
    • Meet Our Staff
    • Secure Contact Form
Great Lakes Insurance

Insuring Powell
and All of Ohio
Call (614) 841-4444

Home / How To Survive A Business Interruption

How To Survive A Business Interruption

Article originally posted May 2, 2016 on www.insuranceneighbor.com(opens in new tab)

While all business owners want their enterprises to be both productive and profitable, you may not have considered the costs associated with a business interruption. Business interruption coverage can be added to your property insurance; this form of insurance is critical in keeping your business fully protected. It is impossible to predict every eventuality, particularly the damage incurred when a heavy storm or other disaster damages your property. This insurance keeps your enterprise viable during the period that you are forced to vacate. You can continue to provide your employees with pay and manage bills during the period in which the business cannot operate.

But how is this different from standard property insurance? While your property insurance will help to pay for restoring your business after the interruption, it doesn’t always cover the losses associated with the inability to function for a period of time. Many business owners choose to add business interruption insurance to their property insurance to protect against this eventuality.

Business interruption insurance (or business income insurance) is triggered under the following circumstances:

  • Physical damage to the property is so extensive that operations are suspended.
  • Damage to the property is so severe that customers or clients are unable to gain access.
  • A government shutdown of the area prevents customers from gaining access to the property.

Halting Operations Can Bring Significant Financial Losses

When any business is forced to halt operations due to a disaster, clients and customers can be lost to the competition and repairs can take an extended period of time. Policy limits will vary based upon need, and the type of business will determine the cost of adding business interruption insurance to your property insurance policy. Generally, if you have equipment that poses a risk of fire, this factor will also affect the cost of added insurance protection. There may be other options beyond business interruption insurance – such as added expense insurance – that could be adequate for your needs. But the only way to determine what is best for your business is to speak with a local agent.

Contact our agency to discuss adding business interruption insurance to your commercial property insurance policy. We search out the best programs for our local customers, with the highest level of protection at the lowest possible rates. Call today for more information.

Filed Under: Uncategorized

Powell Insurance Quotes

  • This field is for validation purposes and should be left unchanged.

John Curry
Always greatJohn C., Powell, OH
MD
5-Star!Matthew D., Powell, OH
SP
5-stars!Sherry P., Ohio, United States
JB
I could not have asked for a better company for coverage.Jeanne B., Powell, Ohio
Rick S.
Bob Green and Pam and the rest of his staff are fantastic.Rick S., Powell, OH
See All ReviewsSee All Reviews

ABOUT US

  • About Us
  • Meet Our Staff
  • Our Insurance Carriers
  • Customer Reviews

INSURANCE

  • Auto, Home, & Personal Insurance
  • Business Insurance
  • Life Insurance

POLICY SERVICE

  • Policy Service Center
  • File A Claim
  • Online Billing & Payments
  • Policy Change Request

CONTACT US

  • Great Lakes Insurance
    • 47 West Olentangy Street
    • Powell, Ohio 43065
  • Phone: (614) 841-4444
  • Fax: (614) 841-4440
47 West Olentangy Street  Powell OH 43065
Google Maps (opens in new tab)Yelp (opens in new tab)LinkedIn (opens in new tab)RSS (opens in new tab)
Great Lakes Insurance Provides Auto/Car Insurance, Home Insurance, and Business/Commercial Insurance to All of Ohio, Including Powell, Dublin, and Columbus.
© Copyright 2023, Great Lakes Insurance | Privacy Statement | Accessibility Statement | Login
BrightFireWebsites for Insurance(opens in new tab)