I have a question for business owners. If your business sustained a catastrophic loss due to a fire or wind event, would you be able to stay in business if you were closed for six months or more? Think about the payroll that you would have to pay in order to keep all of your good employees. Think about the lost business that could occur if some of your customers moved to one of your competitors during the time you were closed.
Today we are talking about business income and extra expense coverage. We feel that for most businesses it is very important because the number one reason that businesses do not re-open after a catastrophe is the unexpected loss in business income.
It is our job as insurance professionals to make sure that this scenario does not happen to you. So, we believe that working with your CPA and your insurance agent is critical to determine your need and the amount of risk you are willing and able to sustain. With that in mind, please be sure to check with your insurance agent to look into your business income coverage so that your agent can work for you!
I’m Malcolm Brooker and that is Making Insurance Work!