Business Interruption Insurance

Business Interruption Insurance in Bethel, CT

Business interruption insurance, also known as business income insurance, is a kind of insurance in Bethel, CT that covers income loss of a business due to disaster.

Think of this scenario: You walk into your little bakery business ready for a busy day of filling in orders and getting new ones. You turn the key, open your doors, reach for the light switch and then…nothing! You have no power and neither does your entire area. You cannot fill your back orders and you can’t take new orders since all your equipment is electric. So for that day, and as long as the power interruption lasts, you will only be counting losses.

This and other kinds of business interruptions in Bethel, CT happen all the time. Small and medium sized businesses are often the worst affected since they do not have alternative premises or backup plans in case of such kinds of emergencies. As a business owner, you need to protect yourself and your business from gross financial losses using business interruption insurance in Bethel, CT.

Business Interruption Insurance in Bethel, CT

How to Reduce the Loss of Business Income in Bethel, CT

Besides the business income insurance policy, there are ways that you can protect your Bethel, CT business from incurring large losses of income during an interruption. These include:

  1. Considering ways to continue partial operations and expedite repairs
  2. If an emergency occurs, have a default action plan. This is particularly important if you live in an area prone to fires, storms, lightning or any other kind of natural disaster.
  3. Have a temporary facility in mind to move to while the current location is being repaired.
  4. Maintain partnerships with non-competitor business associates that can maintain service to your customers in the meantime.
  5. Make a plan on how to downsize operations in the part of the building that can be used.
  6. Have a communication strategy that informs your customers how you will be operating as restoration continues.
Business Income Insurance in Bethel, CT
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Business Income Insurance in Bethel, CT

Business income insurance in Bethel, CT covers income lost during a covered loss that prevented normal business operation. In some cases, it comes with "extra expenses insurance coverage" that provides you with a reasonable reimbursement for extra costs incurred to keep the business open while repairs or restorations were being done. Business interruption insurance is often included in a property insurance policy or as part of a package policy.

It is applicable when:

  • Extra expenses were incurred to keep the business operational
  • Loss of net profits was incurred during the period of interruption
  • Your business was interrupted by fires, storms, riots, explosions or lightning
  • Water, electrical, natural gas and telecommunication services are interrupted within the premises
Business Owner in Bethel, CT

Getting a Business Interruption Insurance Policy in Bethel, CT

It is surprising that while most businesses will not start without fire insurance, some go ahead without getting business interruption insurance. It is as critical as fire insurance, and we at Berliner Gelfand Insurance want to make sure your business survives any incident and goes on to reach its full potential.

That is why we offer business interruption insurance policies in Bethel, CT at competitive prices to all kinds of businesses regardless of the size. Our insurance agents are qualified to walk you through each element of the policy and explain what it all means, so you are clear of the terms of the policy as you sign on the dotted line.

Call us today at Berliner-Gelfand to get a quote on business interruption insurance or come down to our offices for a one-on-one consultation.

Business Income Insurance Policy in Bethel, CT