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Business Continuation Insurance

Business Continuation Insurance with Blue Lion Insurance Advisors, LLC located in Red Bank NJ

Business Events that Affect Your Insurance Needs

Statistics show that approximately 25 percent of businesses affected by disasters never reopen their doors.

Small business owners and individuals who are self-employed are especially vulnerable to the loss of income that business interruptions can cause. To protect yourself from losses in the event of a forced shutdown, you must purchase adequate business interruption insurance and create a thorough business continuity plan.

Implementation of your business continuity plan means more than simply exercising the plan during an emergency. It means integrating the plan into your company operations, training employees and evaluating the plan.

Continuity is critical in business

Continuity is critical in business and there are a few things more important than continuous revenue and cash flow, particularly for small to medium-sized organizations.

In fact, just one brief business interruption can be incredibly costly for an organization often leading to serious reputational damages or ling-term closures.

That’s where business interruption insurance can help. This form of coverage provides protection against a variety of common interruptions including:

  • Natural Disasters
  • Equipment Damage
  • Vandalism

How can business interruption insurance help you?

The following are some major benefits of business interruption insurance:

Revenue: In the event of a disruption, business interruption insurance provides coverage for income our business would have earned during a closure period it had been operating normally

Rent or lease payments: Even if your premises are unusable following a disaster or other event, many leases still require that you make payments. Business interruption insurance allows you to continue making rent or lease payment, even while your business is not operating.

Relocation: In the event that your primary location is unusable following a disaster or other event, you will likely have to relocate in order to remain open and continue generating revenue.

Business interruption insurance can cover the expenses of moving your business to a temporary location and may include both moving and rent costs.

Employee wages: If you are unable to operate, it is likely you will not be able to continue paying employees.

Business continuation insurance can help you avoid losing staff while you’re closes by ensuring that you make payroll. This is especially important, as fining new employees is often more expensive than keeping them.

Loan payments: if you have an outstanding loan, you will need to continue to make payments even if your business isn’t fully operational. Business continuation insurance will ensure you never miss a payment until you are fully operational again.

Want to Learn More?

Business interruption insurance is designed to give businesses access to the assets they need when they need it most. However, these policies can be complex and it’s important to work with insurance advisor when seeking coverage, to learn more, contact us today at…

The next step is easy!

Call us today at (732) 649-1600 to learn how our advisors could get you the right coverage, at the right price, and superior service. You can also Request A FREE Insurance Quote on our site or Contact an advisor for more information.