Many business owners purchase a property or business liability policy and assume they are adequately covered. However, failing to buy a business interruption policy, a business may not be able to survive a severe loss.

When a business suffers a loss such as damage from a fire or a storm, the business may not be able to operate at full capacity if at all. In addition, the company may incur additional expenses such as moving to a temporary location within the Wheat Ridge, CO area. While your property coverage will cover the cost to replace the damaged property, a business interruption policy will help your business cover expenses and any additional costs you occur as a result of the loss.

If your business can be back up and running at 100% capacity quickly then you should speak to your insurance agent st CO Insurance Specialist about gross earnings or limited coverage. Gross earning coverage pays for expenses up until the day you start operating again and does not take into consideration pre-loss income levels.

If your business does not have a financial cushion or it would take a long time to get back up to pre-loss income you should consider extended coverage. Extended coverage will cover you until you are back up to your pre-loss revenue levels. Of course, there is a time limit, and coverage will end after a certain period.

There are also add on coverages such as payroll, accounting fees and contingency coverage options available.

No matter what type of business you operate,  you should make sure you are covered for expenses in the event of a loss. A specialist at CO Insurance Specialist can meet with you to review your business operations and help you decide what type of business interruption policy will work for your business. We proudly serve the Wheat Ridge, CO area.