Own a Nevada Business? Consider Business Income Insurance

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If you own a small business, consider business income insurance as part of your insurance plan.   Consider the following scenario:  Your business catches fire and is shut down for 6 months while repairs are being made.   The insurance company pays for all the property damage however you are unable to sell your product or service without the use of the building.    Would you be able to go 6 months, or less, without selling your product or service?   Most businesses would struggle to survive 6 months without revenue, even with the best property insurance money can buy.

Business income coverage pays for your lost net income, plus any reoccurring expenses. Reoccurring expenses can be utilities, equipment or property leases, vendor obligations, and even payroll. This coverage is a critical lifeline that keeps your business alive while you are unable to operate normally.

Sadly, many business owners neglect to purchase this coverage. Far too many don’t even know the coverage exists or assume it is part of standard property insurance policy. While many business owner policies (BOP) do contain business income insurance, it is not always included. We recommend you discuss this coverage with your agent to determine your needs. Business income insurance can be provided several ways: actual loss sustained (preferred), or a specified amount that is paid

We recommend you discuss this coverage with your agent soon.  Contact us today for a no-obligation review of your current business insurance policy.   We specialize in providing comprehensive insurance solutions for small businesses in the Las Vegas area.

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