Business Income coverage, sometimes known as Business Interruption or Time Element insurance, is a property coverage that is designed to pay the loss of income and continuing expenses that help a company recover following a total or partial shutdown of business operations. 

Business Income is designed to replicate the insured's income stream and covers expenses as if no loss had occurred. Once this insurance is triggered by a covered loss such as fire, equipment breakdown, damage to a neighboring property or the government shutting down an area because of damage from a disaster (that stops or reduces customers or employees from accessing the business), it replaces the business' net income stream.

Business Income Insurance pays ongoing expenses, covers payroll and may cover the extra expenses associated with continuing production while the business shut down or relocates.  Coverage begins from the time of the loss and continues until the time that the business is back up and running at its pre loss state.

Don’t underestimate the amount of time it takes to return to normal operations, consult a Choice Insurance Executive to review your policy. Contact David Connelly, a Manufacturing Insurance Specialist with Choice Insurance

For a worksheet on estimating your Business Income. click worksheet