5 Reasons You Need Business Interruption Insurance
Running a business can feel like walking a tightrope. One unexpected event can throw everything off balance. That’s why business interruption insurance is a crucial safety net. If you're not familiar with this type of coverage, or if you're on the fence about its importance, let me break it down for you. Here are five compelling reasons why Business Interruption Insurance is essential for your business. Protects Against Lost Income Imagine a scenario where your business is forced to close temporarily due to a fire, flood, or other disaster. During this downtime, your expenses don’t stop – you still need to pay rent, utilities, and employee salaries. This is where business interruption insurance steps in. It covers the income you would have earned during the closure, ensuring that you can keep up with ongoing expenses and maintain your financial stability. Without this coverage, a significant disruption could quickly deplete your savings and jeopardise your business...