Business Income Insurance

Business Income Insurance

What happens if your place of business is damaged or destroyed and you were no longer able to operate? Your property insurance policy would cover any repairs to fix the damage or replace the building, but it won’t cover your loss of income in the meantime.

Business income insurance protects you so that you still receive income while your business location is being rebuilt.  Speak with one of the experienced agents at Westgate Insurance Agency today to discuss your business income insurance options.

What Does Business Income Insurance Cover?

When it comes to business income insurance, there are a few different options available. Westgate Insurance Agency can tailor a policy to suit your specific needs. A business income insurance policy typically covers profits that you normally would have received if the loss never occurred.  Your expenses can also be covered so that you are still able to meet payment obligations to vendors.

Is This a Standalone Policy?

No. A business income insurance policy is an available option included in your primary business insurance policy. Once the limits are reached on your primary business policy, the business income insurance policy would kick in. This policy also covers specified losses that are not part of your primary policy.

As an additional feature to a business insurance policy, we can also offer business expense insurance.  This special type of insurance would cover the costs of getting your business back up and running as soon as possible.  For example, if you lose your equipment or any other items necessary to do business, extra expense insurance provides you with protection in this area. Give us a call or stop by our office in Toledo, OH, and speak with one of our agents to find out if business income insurance is right for you.