Landlord Business Income Insurance Coverage
Chapman Insurance Group provides business income insurance, which is a type of property insurance, to businesses in order to cover loss of income in the event of a slowdown or temporary suspension of operations due to physical property damage.
Three simple options
With business income insurance, here are the most common expenses that are covered:
- Mortgage and rent payments
- Employee wages and payroll
- Loss of net income or profit for the period of restoration of business
- Loan payments
- Tax payments
To follow are a list of situations in which you could benefit from having business income insurance:
Your bike shop is an attached building.
- If the store next to your bike shop burns down and spreads to your business, you will have to shut down in order to make repairs. During this time of restoration, business income insurance will help you recover lost income.
You own a camera store.
- After you close one day, burglars break in and steal inventory. In order to replace the inventory, you have to shut down your store. While you’re shut down, business income insurance helps you recover lost income.
You own a rare bookstore.
- A hurricane hits your area and your building suffers severe damage due to wind. In order to repair these damages, you have to shut down. During this period of shutdown, business income insurance will help you recover lost income.
Questions about business income insurance?
Ask an expert.
Chapman Insurance Group is here to make sure your business is protected at all times, no matter what. Contact an agent today to get your questions about business income coverage answered.
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