Business interruption insurance
This policy can pay for operating expenses and lost revenue when a fire or other incident covered by your commercial property insurance forces your business to close.
The cost of adding business interruption insurance to your commercial property insurance or business owner’s policy depends on the value of your business property, among other factors.
A qualifying event is any significant change to your business that affects your insurance requirements.
A commercial property insurance policy that covers open perils protects your business possessions from most causes of loss or damage. However, this option is typically more expensive than a policy that covers named perils.
Named perils coverage is a type of business property insurance that only protects you from hazards and risks explicitly described in your insurance policy.
An insurance policy with all-risk coverage covers claims from all incidents that aren't specifically omitted in your contract.
