Business Interruption Insurance Cedar Rapids IA

Local resource for business interruption insurance in Cedar Rapids, IA. Find helpful information, and listings for insurance companies that may provide business insurance coverage, operating expenses coverage, and business profits coverage, as well as information on business continuity strategies.

American Family Insurance
(319) 364-2417
4341 1st Ave Se
Cedar Rapids, IA
Fuller Donald
(319) 378-6929
1921 51st St Ne Ste 4
Cedar Rapids, IA
Colony Insurance Inc
(319) 622-3151
3343 Southgate Ct Sw Ste 216
Cedar Rapids, IA
State Farm Insurance-Shawn Devries Agent
(319) 377-2886
4837 1st Ave Se
Cedar Rapids, IA
Clymar Billy
(319) 362-1113
3419 Mount Vernon Rd Se
Cedar Rapids, IA
Allstate Insurance Companies
(319) 396-0710
408 Edgewood Rd Nw
Cedar Rapids, IA
Dusing Dan
(319) 362-1606
1935 1st Ave Se
Cedar Rapids, IA
State Farm Insurance Companies
(319) 294-1858
4225 1st Ave Se
Cedar Rapids, IA
Shelter Insurance
(319) 447-2052
4837 1st Ave Se Ste 200
Cedar Rapids, IA
Modern Woodmen Of America
(563) 386-8600
583 E 53rd St
Davenport, IA

Business Interruption Insurance

Business Interruption Insurance is also called Business Income Insurance. This type of commercial insurance policy covers loss of income, which is why it is also sometimes called Business Income Insurance. What it amounts to is a business insurance policy which will cover profit loss in the event of a disaster situation.

Business Income Insurance is not sold as a stand-alone policy. Typically if you want to have Business Interruption Insurance it must be added on to an existing business property insurance policy. The reason for this is that the business insurance add on will not only cover the physical damage to the business which is covered by the initial property insurance policy, but it will also cover the potential profit loss. This means that your loss of income policy covers the period of the disaster so that you would be in the same financial position you were in if no loss had happened at all. However, the overarching policy must cover the cause of the loss for the Business Interruption Insurance to pay out.

Typical coverage during the business interruption period includes profits which are based on prior month financial statements. Fixed costs such as operating expenses will also be included and reimbursement is based on the historical costs of the business, so record keeping is important. Often a temporary location for doing business will also be covered in a Business Income Insurance policy as well as reasonable expenses to continue operating the business as if no loss had occurred until the original business is restored.