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Written by Adam Miller
The Importance of Business Interruption Insurance for Retail and Restaurant Owners

If you're a retail or restaurant owner, you know how much hard work goes into keeping your company up and running. But what happens if something unexpected forces you to close your doors? That's where Business Interruption Insurance can help.

Business Interruption Insurance should be a key part of any small business insurance portfolio because of the benefits it provides when your company needs it most. Learn how this policy works and how Aegis Insurance & Financial Services can help you get this coverage for your restaurant or retail business.

What is Business Interruption Insurance?

If your business is forced to close temporarily because of a disaster or event out of your control, you could lose valuable sales and face unexpected costs. Business Interruption Insurance works by replacing your lost income and paying for extra expenses caused when your business must close due to unexpected causes.

The policy will typically cover perils including:

• Fire
• Theft
• Windstorms
• Falling objects
• Lightning

Most businesses with this coverage will have a 48-72 hour waiting period before the policy will begin covering lost income. This coverage can be stand-alone policy or part of a larger Business Owner's Policy that protects a wider range of business needs.

What Does It Cover?

Business Interruption coverage is especially important for your retail store or restaurant business because of what all it can cover if disaster strikes. There are two major benefits that this policy offers: replacing lost wages and covering unexpected costs.

Lost wages – When your business is damaged or forced to close because of a fire, major theft, damage, or lightning strike, you'll still be responsible for bills such as rent, taxes, and payroll. Business Interruption coverage replaces the income you would have earned if your business was still open, allowing you to continue paying employees and making bill payments.

Unexpected Costs – If a peril closes your retail store or restaurant, but you're able to temporarily reopen in another location, Business Interruption coverage can help cover the costs of relocating. It can also pay for the cost of training employees on how to use new tools, equipment, or machinery if your original property is destroyed or damaged because of a covered event.

Protect Your Company with Business Interruption Coverage

If a catastrophe causes your restaurant or retail store to close temporarily, you shouldn't have to stress about how you'll pay your employees or your bills. With Business Interruption Insurance, you can have peace of mind that the business you've worked so hard to build will be able to fully recover and reopen much sooner.

Business interruption insurance is a must-have insurance policy for retail and restaurant businesses in Texas. Don't wait until it's too late - reach out to Aegis Insurance & Financial Services today and make sure you have this policy added to your Business Insurance portfolio.

Call us today at 713-850-7622 to discuss Business Interruption Insurance with our team of Commercial Insurance agents, or fill out our online form to request a free quote!


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