Business Income Insurance

Business Income is the net profit or loss that would have occurred if a business did not get interrupted by a loss. The net loss or profit would be covered plus any normal operating expenses that must continue during the suspension of the business. The suspension of the business must result from direct physical loss or damage to the property. Coverage is provided against the same causes of loss covered under the business’s property policy. Under certain conditions, the policy also provides an extension of coverage for newly acquired property. The business can pay for additional insurance to cover extra expenses such as expenses to repair and replace the property to get the business operating again.