This coverage, also known as Business Interruption,
is designed to help cover potential losses resulting
from of an interruption of normal business.
Business income lost due to an insured peril, often
exceeds in cost the damages to your real and
personal property. Extra expenses incurred because
of interruption, are also insured.
The policy we recommend consists of the following
coverages:
AGREED AMOUNT: This endorsement is included in
your business income policy. The insurance company
agrees to waive any co-insurance thus agreeing that
the amount of insurance purchased is adequate and
sufficient.
BUSINESS INCOME: This coverage is vital for your
company. In the event you could not continue normal
business because of an insured loss, this coverage
would pay for:
-Reimbursement of actual business income lost
-Salaries and lost wages
-Insurance premiums
-Property depreciation resulting from interruption
-Taxes
-Interest on indebtedness
This protection is designed to provide the funds
necessary to maintain your financial condition,
as if no loss had occurred.
COMMISSIONS OF SELLING AGENTS: This coverage
would pay income to commissioned agents or
independent contractors in the event your facilities
and merchandise were damaged or destroyed.
CONTINGENT BUSINESS INTERRUPTION: This
coverage provides protection in the event you were
to lose income as a result of damage or loss sustained
by a major supplier, distributor or customer. You
would receive payment of income up to the policy
limit or for a period of , whichever comes first.
ELECTRONIC MEDIA AND RECORDS: This coverage
pays for income lost due to damage or destruction of
your computer or data processing media, equipment
or records other than accounts receivables.
EXTENDED PERIOD OF INDEMNITY: This endorsement
provides additional coverage for that period of time in
which your business re-opens, after a business interruption
loss, and until you restore your operations to the condition
that would have existed had no loss occurred.
EXTRA EXPENSE: This coverage pays for the necessary
additional expense of continuing your business operations
after an insured loss has caused damage or destruction
to your premises. Expenses you would incur if such a
loss were to happen include relocation, new phone lines,
subcontracting of work, necessary rents, etc.
LEASEHOLD INTEREST: This coverage would protect against
loss should an insured peril damage or destroy the building
you are renting and by having to relocate, you would have to
pay a substantial rent increase. This reimburses you for the
difference in rent.
LOSS OF TUITION: In the event your property were damaged
or destroyed by an insured peril, this coverage would reimburse
you for loss of tuition income.
MAXIMUM PERIOD OF INDEMNITY: This coverage pays for
the actual loss sustained during the period of 120 days
following the insured loss. The most that the coverage will
pay in the event of damage or destruction to your premises
will be $ or the actual loss amount sustained during the
first 120 days, whichever is less.
MONTHLY LIMIT OF INDEMNITY: This coverage pays for
the actual loss sustained during the time your operations
are suspended up to a stated maximum amount for each
30 day period. The maximum amount equals the limit of
insurance, times (x) the fraction shown in the policy . This
endorsement waives the co-insurance clause.
OFF-PREMISES POWER: This coverage provides payment in
the event an off-premises power failure, communication
network breakdown or lack of sufficient water supply causes
an interruption of business and subsequent loss of income.
RENTAL INCOME: Your rental property is covered against
loss to the structure and certain contents. This coverage
extends the protection to include reimbursement for rental
income lost should that property be rendered uninhabitable,
whereas you would receive payment equal to that which
would have been received had the loss not occurred.
For a Quote call 800-537-7843 or use the form below.
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