Did you know that a full one-quarter of companies that are shut down by a catastrophic disaster for more than a month never open their doors again? And, even when they can afford the costs associated with recovering their business, they often can’t regain customers quickly enough after they reopen to remain viable?
If your organization suffers a temporary shutdown due to a major disaster, a Business Interruption and Extra Expense insurance policy (known also as Business Income insurance) through Paragon Independent Insurance Agency can protect your Plano, TX business from financial losses and expenses.
What Does Business Interruption Insurance Cover?
Your business interruption policy can keep your business running by paying:
- Income your organization would have made if it hadn’t been damaged
- Bills that are due even though you are closed
- Expenses related to keeping your business open after a catastrophe, such as having to rent equipment to substitute for equipment that was lost
- Costs associated with the use of a temporary location
- Recovery-related income deficiencies after you reopen
You can also opt for comprehensive coverage for loss of utility service, supply chain interruptions, equipment breakdown, and electrical breakdown, to name a few. Your policy can cover business income in the event a dependent property or anchor store closes its doors due to a loss, causing your revenue to suffer.
Our Goal Is to Help Your Business Keep Its Doors Open
Paragon Independent Insurance Agency provides Plano, TX business owners with insurance to protect your company from financial problems caused by income losses and recovery expenses. We work with numerous insurance carrier partners to offer a broad range of insurance policies and enhancements to protect your business from financial problems due to lost income and the expenses of recovery. Give us a call today to find out how to protect your business in the event of a disaster.
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