Call Us 866-950-6844 (MVIG) ☰ ˟
Meet the Team Manage My Policy
Logo
866-950-6844 (MVIG)
  • Home
  • Get A Quote
    • Annuities
    • AutomobileImage of right arrow
      • Auto Insurance Quote
      • Auto GAP Insurance Quote
      • Mexico Travel Insurance Quote
    • Bonds
    • Business & CommercialImage of right arrow
      • Commercial Auto Insurance Quote
      • General Liability Quote Form
      • Business Owners (BOP) Quote Form
      • Builders Risk
      • Liquor Liability Quote Form
      • Workers Compensation Quote
    • Dental
    • Flood
    • HealthImage of right arrow
      • Health Insurance Quote
      • Disability Insurance Quote
      • Long Term Care Insurance Quote
    • HomeownersImage of right arrow
      • Homeowners Insurance Quote
      • Manufactured Home Quote
      • Homeowner Flood Quote Form
    • LifeImage of right arrow
      • Life Insurance Quote
      • Term Life Insurance Quote
    • Motorcycle
    • Recreational Vehicle
    • Renters
    • Toy Vehicles
    • Vision
    • Watercraft & Boat
    • Windstorm
  • Customer Service
    • AutomobileImage of right arrow
      • Request ID Card for Auto Policy
      • Request Declaration and Coverages Page for Auto Policy
      • Send Declaration and Coverages Information to Lien Holder
      • Add Vehicle to Existing Auto Policy
      • Remove Vehicle from Existing Auto Policy
      • Add Driver to Existing Auto Policy
      • Remove Driver from Existing Auto Policy
    • Business & CommercialImage of right arrow
      • Request ID Card for Commercial Auto Policy
      • Request Declaration and Coverages Page for Commercial Auto Policy
      • Add Vehicle to Existing Commercial Auto Policy
      • Remove Vehicle from Existing Commercial Auto Policy
      • Add Driver to Existing Commercial Auto Policy
      • Remove Driver from Existing Commercial Auto Policy
      • Request General Liability Certificate of Insurance
    • Dental
    • Flood
    • HomeownersImage of right arrow
      • Request Declaration and Coverages for Existing Homeowners Insurance Coverage
      • Request Evidence of Insurance
    • MotorcycleImage of right arrow
      • Request ID Card for Motorcycle Policy
      • Request Declaration and Coverages Page for Motorcycle Policy
      • Add Motorcycle to Existing Policy
      • Remove Motorcycle from Existing Policy
      • Add Driver to Existing Motorcycle Policy
      • Remove Driver from Existing Motorcycle Policy
    • Recreational VehicleImage of right arrow
      • Request ID Card for Recreational Vehicle Policy
      • Request Declaration and Coverages Page for Recreational Vehicle Policy
      • Add Recreational Vehicle to Existing Policy
      • Remove Recreational Vehicle from Existing Policy
      • Add Driver to Existing Recreational Vehicle Policy
      • Remove Driver from Existing Recreational Vehicle Policy
    • Renters
    • Watercraft & BoatImage of right arrow
      • Request ID Card for Watercraft Policy
      • Request Declaration and Coverages Page for Watercraft Policy
      • Add Watercraft to Existing Policy
      • Remove Watercraft from Existing Policy
      • Change Primary Operator on Existing Watercraft Policy
    • Windstorm
  • Blog
  • Resources
    • Refer a Friend
    • Important Links
    • Insurance Glossary
  • About Us
    • Location Map
    • Employee Directory
    • Privacy Policy
  • Contact
    • Contact Us
Auto Icon Home Icon Business Icon Life Icon Health Icon Boat Icon
Home > Blog > What Is the Value of Business Interruption Insurance?
MONDAY, JUNE 6, 2022

What Is the Value of Business Interruption Insurance?

Business interruption insurance provides financial protection for a business when it cannot operate. It is an important form of business insurance. It can help to replace the income lost as a result of a covered event.a man standing in front of a window

Business interruption coverage may not sound like an important investment. But, it could mean keeping your business operational long term.

When Does Business Interruption Insurance Apply?

Business interruption insurance usually applies to situations where the business cannot operate for a period of time. This may include instances such as a natural disaster or fire. It often will not cover instances where the owner failed to maintain equipment or, in some cases, flooding. Your policy will specifically outline the types of instances when it applies. Generally, these instances are disaster-related.

When Does It Apply?

Most of the time, business interruption insurance does not cover a single days’ outage. It may step in to provide you with financial protection once a specific period of time passes. This is often 48 hours. Those first 48 hours are generally not covered by the business insurance.

How Much Does It Pay?

This depends on various factors. The insurance company will work with you to determine how much income you lost during the shuttered period. If your business closed for a week due to a covered claim, the insurer will estimate the amount of income your company was likely to produce during that time.

You may also want to consider an extra expense coverage. This can help to extend how much financial protection your business receives. This can help you to avoid having to shut down your company during a significant restoration period. It may provide sufficient coverage without the need for business interruption coverage.

Why Do You Need It?

Why invest in this type of coverage? Most businesses can withstand closing for a day or two. You may have the financial means to cover this.

Yet, when an extended period of closure occurs, you may have trouble maintaining costs. You are still responsible for paying your vendors. You may need to pay employees so they do not move on to another job. You may need to pay other costs to keep your business sound even though your company is not making any money. Business interruption insurance covers these types of losses.

Max Value Insurance Group can help you get a fast, free business insurance quote that fits your needs. Call us at 866-950-6844 for more information.

Posted 4:40 PM

Tags: business insurance
Share |


No Comments


Post a Comment
Required
Required (Not Displayed)
Required


All comments are moderated and stripped of HTML.

NOTICE: This blog and website are made available by the publisher for educational and informational purposes only. It is not be used as a substitute for competent insurance, legal, or tax advice from a licensed professional in your state. By using this blog site you understand that there is no broker client relationship between you and the blog and website publisher.
Blog Archive
  • 2022
  • 2021

  • business insurance(3)
  • auto insurance(3)
  • health insurance(2)
  • rv insurance(2)
  • life insurance(1)
  • home insurance and dog breeds(1)
  • home insurance(1)

View Mobile Version
Facebook
Twitter
Instagram
Google+
Contact Us Today
Speak to an Agent
Resources
Products
Customer Service
Payment Options
Report a Claim
Refer A Friend
Our Carriers
Blog
Contact Us
Contact us
1000 SW 86 Ct
Miami, FL 331440
info@maxvalueins.com
Mailing Address
P.O. Box 442726
Miami, FL 33144
© Copyright. All rights reserved. Powered by Insurance Website Builder.