Business Interruption Insurance

When you’ve worked hard to become your own boss, you’re the one holding the bag if hardship or disaster strikes. Whether you’re a solopreneur or a megacorporation, business ownership carries unique risks. Business interruption insurance can help keep the lights on and your income in place when a downturn hits.

Our experienced team of independent agents at Lake Region Insurance Agency is here to serve you. Our roots run deep in the Willmar, Cokato, and New London, MN communities. We invite you to stop in or call for a free review of your coverage. We’ll help you uncover any gaps in your policies, and provide the best rates possible on premiums.

Business Owners Need Appropriate Coverage

Most owners know the value of policies to cover their company’s general liability, property, business autos, and workers’ compensation. However, those premiums won’t replace lost income, cover payroll, or continue to pay your bills in the event of a business interruption.

Comprehensive coverage for business owners means covering yourself and your brand so that your revenue and good credit continue even when your operations can’t.

What Factors Can Interrupt My Business?

Of course, when hail or tornadoes threaten your region, it’s natural to be concerned about your buildings, vehicles, or heavy equipment. Your property and casualty business policies will likely cover any building repair or equipment replacement costs after you’ve met your deductible.

But if you can’t serve clients for several weeks, there’s no recouping your lost revenue. Further, your employees and other bills may go unpaid without additional coverage.

Many events out of your control could interrupt your business for an extended period:

  • Weather Emergencies
  • Fire
  • Flooding
  • Vandalism
  • Theft
  • Computer Viruses or Ransomware
  • Tornado 
  • Injury
  • Litigation

How Does Business Interruption Insurance Work?

Typically, this type of protection comes as a rider option on your property or casualty policy. You can check with your tax specialist about deducting the extra cost as a business expense.

If you incur a loss, your claim will pay based on your past revenue performance. With sufficient coverage, the policy will pay until you can resume operations.

Your business interruption policy may cover 

  • Lost Income
  • Fixed Costs
  • Extra Expenses 
  • Temporary Locations 
  • Loan Payments 
  • Employee Training and More

Comprehensive Coverage with Lake Region Insurance

As your neighbor and fellow business owner here in Greater Minnesota, we understand the dedication entrepreneurs must have to achieve success. 

Our Lake Region agents are independent of specific companies, and we’re on your side. We can shop the market for the best coverage to fit your budget and your needs. We’ll find the right policy package to match your organization’s requirements.

We know business ownership is a constant investment of your time, financial resources, and sweat equity. Let us help you sustain your business if losses out of your control occur.

With Lake Region Insurance Agency in your corner, you have a trusted business partner who is dedicated to your sustainability. Visit our website today for a free quote and breathe a little easier with business interruption insurance from Lake Region. 

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