What Does Business Interruption Coverage Do?

Our Enfield, CT customers often wonder about how commercial insurance works, and why it is important to their business. Truthfully, the most loss a business can experience comes from the suspension of work due to damages, in addition to the loss of actual property.

Today, Koverage Insurance Group will examine how the business interruption coverage in your commercial insurance policy can help you get your business back on its feet following a major disaster.

What is business interruption coverage?

Imagine a situation in which you are no longer able to conduct normal business operations for an extended period of time. This can happen due to damages from natural disasters, criminal vandalism, or a fire; just to name a few.

During the period of time it takes to restore your business into proper working order you will likely be losing money. This is where business interruption coverage can help.

This type of coverage can help assure that you are able to repair or replace needed property, as well as provide for bills or lost wages during the restoration process. Specific coverage will be determined by your policy, usually determined by the nature of your business.

What should I do when my business is suffering hardship due to a covered loss?

  • Give notice as promptly as possible – If a law was potentially broken, inform the police. Then make sure you notify your insurance company of the loss including the time and location of the damaged or lost property.

  • Protect your property from further loss – If reasonable, move or otherwise shelter the remaining property from damage until it can be evaluated.

  • Record all expenses for repairs and other emergency costs – These will be important considerations for your insurance settlement.

Koverage Insurance Group is dedicated to helping see our Enfield, CT commercial insurance customers through times of emergency. Contact us today to discover more reasons why business interruption coverage will protect you during times of crisis.

Koverage Insurance Group LLC News

FOR IMMEDIATE RELEASE

KOVERAGE INSURANCE GROUP LLC REPRESENTING CENTRAL INSURANCE COMPANIES

Koverage Insurance Group LLC, 657 Enfield Street, Enfield, CT is proud to announce they are now representing the Central Insurance Companies of Van Wert, Ohio.

Established in 1876, Central is a highly respected company that values long term relationships and knows the importance of personal, friendly service. The Central Insurance Companies are made up of Central Mutual Insurance Company, and All America Insurance Company. Central operates in 24 states with their Home Offices in Van Wert, Ohio. Central’s A.M. Best rating is A (Excellent).

Koverage Insurance Group has been serving the insurance needs of CT residents and businesses for “over 100 years combined” Koverage Insurance Group is comprised of multiple insurance agencies in CT.  Koverage was founded by The Jarrett Agency, DiLorenzo Insurance and Stephen Rak Insurance Group. Koverage is dedicated to providing the best insurance carriers available to its clients.

Call Michael DiLorenzo at 860-745-4222 for more information about Koverage Insurance Group LLC or visit their web site at www.koveragegroup.com.      

For additional information contact:

Michael DiLorenzo @ 860-745-4222