It is important to have business interruption insurance so that you can be prepared against accidents that might come your way.

So you are running a business and you are doing very well. Your business is doing well enough that it has pulled itself out of the hole and is starting to profit greatly. You offer a product that many people want, but few people offer. You have just finished setting up your office the way you want. You have everything organized and running smoothly. It is a great day to be in business.

Then one day you leave for work. As you get close you see smoke ascending to the sky from somewhere near your business. As you get even closer you realize that the smoke is coming for your very own business. You pull up to see you business in flames, surrounded by fire trucks and firemen. By early afternoon the fire is out. There is not too much damage but there is enough damage that you cannot work in the building. This would probably be a bad time to ask your insurance agent about business interruption insurance.

It is very important for businesses to have business interruption insurance. Some people think that fires and such are freak accidents that could never happen to them. This however is not true and you should always be prepared for accidents. You want to be sure that you talk to your agent about business interruption insurance and start paying for it before you ever need it. That way when accidents come, you know you have time to get the business fixed up without having to lose a lot of money.

There are a few things you will want to be sure are included in your business interruption policy. One of these has to do with the length of time you are covered for after an accident. You want to be sure that this length of time is long enough. A few days is not enough time to recover from a fire and get your business back up and running. Even a week is too short. You want to be positive that when accidents come you will have plenty of time to fix the business up the best you can and get it back into ship-shape. A couple of days will only allow for a patchwork fixing job. It is better to be sure that you have plenty of time to fix what you need to than it is to have to rush and try to squeeze everything in. The quality of your "fixing-up" will be much better if you are not in a hurry.

Another thing you will want to be sure is included in your business interruption insurance policy is extra expense coverage. This coverage covers extra expenses you have to pay while getting your business fixed up. It would pay for renting expenses if you had to relocate your business for awhile. This may be expensive but it will not exceed the amount that you will be making by keeping your business up and running. If you do not continue to grow like you were before you will at least not fall into a hole. Having the extra expense coverage will keep you on top while you are taking care of all the problems which come as a part of having an accident.

Getting an interruption insurance policy is a great idea for your business and is something that you should definitely ask you insurance agent about. You should always be prepared for accidents because they are not planned and you never know when they might hit. What a bummer it would be to pull up to work the day your business is on fire and know that you are not prepared to handle such expenses.