[vc_row][vc_column][vc_column_text]Business interruption insurance is sold as a safety net for businesses in case they are forced to stop normal operations, resulting in lost business, revenue, and profits. Safer at Home policies have shut the doors of countless businesses during the Covid-19 pandemic. Business affected by forced closure or drastic change in operations can pursue insurance claims under business interruption insurance. Many businesses may not even be aware if they have this type of insurance coverage. While business liability insurance is often required, business interruption insurance is not. It's important to review all of your insurance documents to see if you have purchased business interruption insurance without even realizing it.
How is it possible to have purchased an insurance coverage without knowing about it? Business interruption insurance is sometimes bundled with other coverage, including the more utilized Business Owner's Policy (BOP). In addition to business liability and commercial property, BOPs often include business interruption coverage. If you have struggled during the coronavirus pandemic and have purchased any type of business insurance, it is important to look over your policies. If you see any of the following terms in your declarations, you may be able to file a claim:
- All risk
- Business disruption
- Business interruption
- Civil authority
- Contingent business interruption
- Extra expense
- Loss of ingress or egress
- Open perils
