How does business interruption insurance work? Does it cover operational costs and lost income if I temporarily shut down for renovations or relocation?

Business interruption coverage actually is what’s called a dependent coverage. In order for business interruption coverage to apply, there first needs to be a property loss. If you’ve had a fire, a theft, a car drive through your building’s front glass window forcing you to claim and then you need to shut down because you need to make renovations, you need to make other repairs or whatever else happens and you’re gonna have loss of income. At that point, business interruption coverage would apply because you’ve had another sort of claim and you need to be out of business to address the incident that caused that claim. But it doesn’t cover redecorating or remodelling. I’m gonna shut down for a week, that would not be a covered claim.

We’d be happy to review your insurance coverage options with you! Give us a call at (631) 213-3331 or visit https://www.camillebunicciagency.com.