What Is Business Interruption Insurance and Do You Need It?

There are numerous risks associated with running a business. A business owner might worry at some point what they can do if they had to close their business for even a short while. If you are concerned about this, it’s in your best interest to talk to an agent from Fortress Insurance Agency of the Overland Park, KS area. 

What Is Business Interruption Insurance?

Business interruption insurance protects income that you might lose and helps you move locations in the event you can’t use your space at all due to an accident or disaster. This may allow you to be able to open your doors again fast. Since property insurance typically doesn’t cover financial business losses, it may be a good idea to set up this specific policy for additional coverage. 

If you do not have a solid plan that helps you deal with a sudden loss of income or for relocation after an accident or serious damage to your property, insurance will be a crucial thing. When your business requires some time to heal after there’s been a hurricane, fire, or some other type of disaster, you can rest easier knowing you have the right coverage. 

If you don’t have interruption coverage in your policy contract, you likely will be under-insured. This can be added to a commercial property policy or your Business Owners Policy. If you need some more information before you decide if you’d like business interruption insurance, talk to an expert from Fortress Insurance Agency. We serve the greater Overland Park, KS area and are proud to help new customers at any time. Reach out today and we can help you find the right policy. 

What Does Commercial Property Insurance Cover?

Commercial property insurance helps protect you by providing coverage for the physical property belonging to your business. In Overland Park, KS, business owners can find peace of mind knowing their business property is protected against damage and income lost due to the damage. For additional information about protecting your business with a commercial insurance policy, call the experts at Fortress Insurance Agency today. 

What is Commercial Property Insurance?

To understand what commercial property insurance covers, you must first understand what the policy is. Commercial property insurance is purchased by businesses or corporations and is a specific type of insurance protecting the company’s physical property. The policy covers tangible land, capital equipment, and contents of the building owned by the company. There are stipulations to the policy, which define specific types of coverage and compensation amounts. 

What Does Commercial Property Insurance Cover? 

Different types of commercial property insurance cover other things, such as the cause of damage and the property insured. For example, most policies cover accidental damage and damage caused by fire. However, additional coverage may need to be added for damage-causing perils, such as flooding and storm damage. Additionally, a commercial property insurance policy provides reimbursement to a business owner for income lost and expenses incurred due to damage to their property. 

How Does Commercial Property Insurance Work?

Commercial property insurance works similarly to homeowner’s property insurance. The business owner pays a premium for insurance coverage, and when damage occurs, the owner files a claim. Then the insurance adjuster assesses the claim and evaluates if it falls under the scope of their insurance policy. 

Protect your Overland Park, KS business property today by calling Fortress Insurance Agency for additional information about commercial property insurance coverage. 

Does an Online-Only Business Need Commercial Insurance?

Some in the Overland Park, KS business community assume that commercial insurance is there to protect the business’s actual physical properties. That is the store, the inventory, and so on. In truth, that’s only a fraction of what commercial insurance covers.

The most important feature of any commercial insurance policy is going to be your liability protection. This is the policy that kicks in and covers the damages if someone is injured or otherwise suffers losses on your business premises or as a result of your products or services.

With that in mind, you can see how such a policy would benefit an online-only business. Even if you don’t sell any physical goods, even if your services don’t involve visiting anyone’s house or handling their property, it’s easy to imagine, say, an app with a bug in it that makes it susceptible to hackers.

So yes, an online-only business does need commercial insurance. It’s not about the size of your business or how much money you’re making. It’s about the risk you’re taking on.

Insurance policies offered by certain platforms will cover some small businesses. If you make grocery money on Etsy, for instance, you might not have many risks to consider. But as soon as you’re taking on risk on your own, your Overland Park, KS business needs protection.

If you have any questions or you’re looking to get covered, get in touch with Fortress Insurance Agency. Call or explore the Fortress Insurance Agency website and see what we can do to protect you and your business with a great policy at a fair price.

What Does Commercial Insurance Cover?

If you’re a business owner in Overland Park, KS, then you should be familiar with commercial insurance. If you’re new to owning a business, maybe you’re not as familiar and would like to be. Luckily, Fortress Insurance Agency has your back. Learn all about the in’s and out’s of commercial insurance and how it can protect your business. 

What Can You Get from Commercial Insurance? 

Commercial insurance, or business insurance, is a type of insurance that protects you and your business in the worst-case scenario. Like any insurance, commercial insurance provides your business with financial coverage. Here are some areas in which commercial insurance can provide coverage: 

  • Worker’s Composition: One of the more popular methods of coverage, worker’s composition provides a worker financial compensation if they were to get injured on the job. 
  • Liability: If someone else’s property was damaged and your business was at fault, this coverage would protect you. 
  • Property/Equipment Damage: If any of your business’s property or equipment were damaged, repair or replacement costs would be covered. 

To know how much coverage you are eligible for, visit Fortress Insurance Agency for a consultation. 

Why Get Commercial Insurance? 

If you have a business, whether it’s big or small, you need commercial insurance. Commercial insurance protects the vital aspects that make your business thrive: the equipment, the property, and the employees. It only makes sense to protect your assets. 

Keep Your Business Covered with Fortress Insurance Agency

To help you keep your business protected, Fortress Insurance Agency wants to help you find the right commercial insurance plan for you. Our office is located in Overland Park, KS, but you can contact us online for a consultation. Don’t wait any longer and get the right coverage to keep your business protected in the worst of times!