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Business Interruption Insurance Is Vital
Although most small business owners know they need property and casualty insurance for their premises, many don’t realize they need specialized insurance coverage to limit their losses from a disaster.
Perhaps the biggest omission owners make when buying a commercial policy is business interruption insurance.
Business interruption insurance covers profits that are lost and expenses that continue to be incurred when a company is forced to shut down by a disaster, or even by an event such as an extended power outage.
Policies typically have a 48-hour waiting period before coverage starts, but, depending on how much coverage a business buys, interruptions up to 360 days can be covered.
Among the expenses that business interruption insurance covers are salaries, rent and electricity — costs that you still need to pay even though you can’t operate.
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buyllp.com on September 11th, 2006 9:17 pm
they are probably worried about the cost, so they can come up with a little of profit
Business Interruption Insurance Is Vital | LLC Formation on September 14th, 2006 4:38 pm
[...] Original post by Rich Filed under Strategy, Operations, Business Structures, Planning by [...]
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