Did you know that 40 percent of businesses don’t reopen after experiencing a disaster? That’s what the U.S. government’s Federal Emergency Management Agency estimates. To make sure your company can reopen, consider business interruption insurance. This type of coverage is different than property insurance, which typically covers only physical damage. A business interruption policy can help you recover the income you lose while your doors are closed, which can be a deciding factor in your company’s survival. It is available for a variety of businesses and can be a significant part of your overall Orlando commercial property owner’s insurance.
Along with revenue that you would normally have earned, business interruption insurance typically covers the cost of a temporary relocation should your physical property sustain damage. It also covers fixed costs that your property continues to incur, as well as training costs for any new machinery needed to replace damaged equipment. Another important feature is coverage for extra expenses needed for continued operation during repairs; this is in addition to fixed costs. Should you escape damage from an event, but the government closes your store or street, this provision covers that too. Orlando commercial property owner’s insurance is a necessity for ensuring the recovery and repair of your company; business interruption insurance ensures you have a business to recover.