Business Income Interruption Insurance

Business Income Interruption insurance—or Business Interruption—reimburses a business owner for lost profits and continuing fixed expenses during the time that a business must stay closed while the premises are being restored because physical damage from a covered peril makes it impossible to carry out normal business operations. Business Interruption coverage is generally written with your commercial property insurance or business owners’ policy. It can also be included in a customizable commercial package policy.

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Why Do You Need Business Interruption Insurance?

If the location of your business is critical to generating revenue, then Business Interruption insurance is vital. This is often the case for most businesses (retail, restaurant, property owner/manager, manufacturers, and distributor operations), but may not be as important for a service firm that does most of its business off site. For example, if a fire at your retail store closed the site for repairs, business interruption insurance would pay you a percentage of the income you would have earned if your business had been open.

Business Income Interruption Coverage Includes

Generally, you’ll be covered for income losses arising from direct physical damage to your business when caused by a covered accident. If fire or other disaster results in your customers being unable to reach you, you are probably covered. Additional coverages include:

  • Contingent/Dependent Business
  • Extra Expense Insurance
  • Ingress/Egress
  • Interruption by Civil or Military
  • Leasehold Interest
  • Manufacturing Operations
  • Utility/Services

Business Interruption Insurance for Seasonal Businesses

For a retail or hospitality operation, Business Interruption insurance often includes a clause that allows you to increase the maximum benefit during specific periods of the year. Generally, those periods include the weeks before the holidays, but that may vary depending upon your business and specific arrangements with your insurer.

The Brunswick Advantage

Brunswick Companies offers Business Income Interruption insurance policies from a wide range of top ranked carriers. With over 35 years of commercial experience, we have the know-how and industry contacts to match your needs with the plan that best suits your risk management and financial goals.

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