Entrepreneurs and business owners everywhere have questions about business insurance—and to answer queries about everything from business interruption to product liability and beyond, the Insurance Information Institute (I.I.I.) has released a new video going over all the in’s and out’s of business coverage.
So much more goes into business insurance than getting the lowest business insurance quotes. It means understanding your business’s unique needs and the potential risks that can threaten its success. For example, 25 percent of all businesses do not reopen after a disaster, the I.I.I. noted. Fortunately, business income insurance covers the revenue you would have earned, based on your financial records, had the disaster not occurred.
“Too many small business owners fail to think about how they would manage if a fire or other disaster damaged their business premises so that they were temporarily unusable,” said Worters. “A business that has to close down completely while the premises are being repaired may lose out to competitors.”
Watch the short video provided by Insurance Information Institute. If you have any questions regarding your business insurance coverage let us know at Penny Hanley & Howley Insurance. We are here to assist you with all your business insurance needs.
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source info: III.org