Ontario Business Interruption Insurance
Imagine the impact if you were unable to operate your business for a period of time due to a loss such as a fire. How would you carry on? How would you manage to continue to look after your customers? How would you manage if there was a drop in income due to a loss? This is when it can be important to have Business Interruption insurance.
Business Interruption insurance can help to cover these kinds of impacts. Property insurance coverage would indemnify you for insured direct damage claims to contents, stock, equipment, and buildings. Business Interruption insurance is needed to provide coverage for your lost earning capacity during the period of restoration and for a period of time once you are back up and running. Within Business Interruption insurance, there are options for additional coverage extensions for neighboring and contingent properties. Perhaps you are a manufacturer and dependent on one supplier for a unique part. If that supplier were to have a fire and was not be able to operate, your own business operations would be interrupted and you may lose income. A contingent properties extension can be purchased to provide coverage for your lost income.
If you would like more information and a quote on this valuable coverage, contact our Tri-County Insurance business experts or get an online quote.
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