Business Insurance Business insurance policy coverage

[Phabbyfundz]

— Business income coverage; compensates for lost income an individual business owner or company has to vacate its premises due to disaster related damages that is covered under the property insurance policy. Business income insurance covers the profit the company would have earned based on financial records, had the disaster not occurred. The policy also covers for operating expenses such as electricity that continue even though business activities has come to a temporarily halt.
— Extra income coverage; reimburse the company or business owner for a reasonable sum of money that it spends over and above normal operating expenses to avoid having to shut down during the restoration process
— contingent business interruption insurance; protects a business owners earning following physical loss and damages to the property of the insured suppliers or customers as opposed to its own property.

 

[Chibson]

Business insurance is very important because some damages may happen that will make you go out of business and in any case you are into any agreement with an insurance company for coverage you will definitely not lose much because they we got you covered. It is very important for business people to go into business insurance.

 

[Wisdom01]

Business insurance is also important because you could get coverage for your business against any form of risk ranging from fire , theft and others , in order to have coverage for the unexpected events the business person could get a premium cover for his business too as a cover,,

 

[Mandy96]

This is mainly meant for business owners. It is a means to get their entity covered just incase a financial downfall occurs which might lead to a bankruptcy. This is where the insurer comes in to compensate the insured. It is a good backup plan for anybody that runs a business

 

[btaliat]

This is only nice in the part of the business owners and to me, the insurance company may not be benefiting more in this type of insurance policy. Let me make myself clear. What will happen if the business is making loss, will the insurance be covering for the loss?

 

[Wisdom01]

This is mainly meant for business owners. It is a means to get their entity covered just incase a financial downfall occurs which might lead to a bankruptcy. This is where the insurer comes in to compensate the insured. It is a good backup plan for anybody that runs a business

Exactly financial downfall could happen at any point in time most business have shut down their operation because of that , since their business got wiped away by fire and they have lost all the available hope of bringing the business back to its best , if only they have an insurance policy attached things would have been better