Secure Your Future: Business Interruption Insurance Explained

When you think about purchasing a business policy, you probably think about the protection it provides for a fire, windstorm or burglary.

Insurance that covers the cost to repair a damaged building is one thing, but what about the other implications of temporarily closing? Could your business financially weather the storm without regular income from customers while you rebuild?

This is why business interruption coverage (sometimes called business income coverage or income protection coverage) is important.

Business interruption coverage provides peace of mind, giving you time to focus on rebuilding rather than worrying about financial ruin in the face of unexpected setbacks. You've worked hard to build and grow your business. We can help you keep it safe.

What is business interruption coverage?

Business interruption coverage compensates you for lost income if your business is temporarily closed due to a covered loss under your business policy. Your insurance policy would pay for the loss of income you would experience due to a partial or total interruption.

What does business interruption insurance cover?

Business interruption insurance covers the revenue your business would have earned (based on your financial records) had the loss not occurred and helps cover other expenses that don’t stop—like utility bills, payroll, taxes and rent. 

What if I need to temporarily relocate my business?

Experiencing a business loss is stressful enough. But then there’s the added issue of temporarily relocating while you rebuild. That could mean additional costs, including: 

• Relocation expenses (like moving trucks) for temporary space to work
• Costs to equip and operate the temporary location
• Overtime pay to employees in order to get the temporary location up and running

With business interruption and extra expense coverage, you can relax—your policy can pay for necessary extra expenses that it takes to help keep things running smoothly if you need to temporarily relocate your business due to a covered loss.

More questions? Talk to an ERIE agent

Not sure if your business policy already has business interruption and extra expense coverage? Connect with your local ERIE agent to find out. Your agent can answer your questions and discuss how business interruption coverage would work if you experienced a covered loss.