Business interruption insurance safeguards your business's income during unexpected closures due to events like fires or utility failures like power and gas outages. This is crucial for factories where such incidents have significant effects, as well as offices used by online stores.
Ensure to secure this insurance when purchasing business property. Compare terms and rates from various insurers. Focus on the duration and amount of the payouts, which generally cover lost profits and fixed expenses. The insured amounts typically consist of profits plus fixed costs or turnover and variable costs, with an average premium about 1.50% of the total insured amount.
