Paying for business interruption insurance is not a free pass to stop protecting against business interruptions. It is in your best interest to protect your business from stalls and disturbances. Not to mention that your business interruption insurance company will investigate your business for safeguards before and during your interruption. If you are not protecting against business interruptions properly, the cost of your business interruption insurance may be high. Or, the insurance company may not choose to insure you at all.
Before quoting your business interruption insurance, the insurance company may examine a number of aspects of your business, including:
- Security systems
- Sprinkler systems
- Warning systems
- Back-up computer servers
- Building structure
- Smoke alarms
- Evacuation plans
- Contingency plans
You should also note that business interruption insurance does not cover all expenses and all instances of business interruption. For example, business interruption insurance often does not include the first few days of business interruption and only lasts a limited time after your business interruption incident.
It is important for most businesses to carry business interruption insurance. But it is equally important for these businesses to take precautions against the common causes of business interruption, ranging from faulty technology to severe weather.
Are you having difficulty filing your business interruption insurance claim, or do you simply have a question about business interruption insurance? We may be able to help. At the Voss Law Firm, we are dedicated to helping our clients navigate the world of insurance to protect themselves against unforeseen events and incidents. Call us today to schedule a private, free meeting with one of our experienced business interruption attorneys: 888-614-7730.