What happens if you have to close up shop for a month? Can you still make payroll to keep your guys around? And if you can’t – how long do you think they’ll wait?
More than that. Can you cover rent at a second location even without income? Will you be able to cover your debt? What about if you can’t reopen for 6 months?
Loss of Income Insurance covers you in case your business has to shut down unexpectedly.
In the event of a fire at your premises for example, the policy would replace your lost net income while you were closed. That way you’d be able to keep making payroll, keep paying your mortgage and advertising expenses, and keep you afloat long enough to get back to work.
Furthermore, extra coverage can be purchased to cover shutdowns in case of utility failure or evacuation. There’s even coverage available in case your suppliers can’t get materials to you, or if you have extra expenses in case of a shutdown.
To explore your Loss of Income Insurance Coverage options give us a call at 1 (888) 298 7343