Does my commercial insurance policy protect my business when the business is closed because of weather?

Besides your home, your Olathe, KS business is your most valuable asset. Your commercial insurance through AHI Group probably has coverage for at least the property and vehicles you use. When bad weather strikes, you will hopefully have coverage to help you recover from property damage. However, if the event is serious enough, bad weather can close your business for a short time or even indefinitely while your recover. 

Bad Weather Coverage

Especially if you live in an area where there are frequent weather events, it is vital to make sure that your insurance covers those kinds of incidents. Some policies will have exclusions for certain kinds of weather events, and you need to make sure you understand what your policy covers. However, even if you have coverage, you will likely only be protected against physical damages. Coverage for when your business is closed is different and must be obtained separately.

Business Interruption Insurance

When your business is closed, you still have to pay your mortgage and employees. Some businesses never recover from a business closure that happened because of a weather event. Income protection insurance, also called business interruption insurance, can help cover that gap. You will still be able to pay wages, rent, taxes, utilities, and other necessary bills that continue to accrue while your business is closed. 

Get The Coverage That You Need

If your business closes because of an unforeseen weather event, you will want to get back open as soon as possible. Business interruption insurance can help you to stay afloat while you make necessary repairs. If you feel as though this is a protection that could help your Olathe, KS business, or if you have questions about how it works, please call AHI Group today.