Business Income Protection Massachusetts
If your companies building was damaged or destroyed, how long do you think your business could survive? Your sales and production schedules will be disrupted. And while your business is shut down, you lose income. After suffering a loss, with no revenue coming in, ongoing expenses can cripple your business. The good news is, when you’re prepared, it’s a lot easier to recover.
What size and type of companies need business income insurance?
The size of a company is irrelevant. Regardless of your company size, an interruption in your business will result in the cessation of all revenue. There are various ways to customize coverage and a number of forms available that can help you tailor your insurance to your organization’s specific needs. For example, if there were a fire at an engineering or law office, those facilities would need the insurance proceeds to resume operations immediately following the loss. These needs would include money for additional rental space, computers, equipment — anything that would create a facility where people can get right back to work servicing their customers and generating revenue.
A manufacturing company with processes performed over multiple locations might need to spread a single insurance limit over all of those locations.
Often, organizations such as nonprofits mistakenly believe that they do not have an exposure because they don’t have a loss of profits after an interruption, but they do have continuing expenses and the inability to raise funds. There is a need of some sort for all organizations.For more information on Business Income Protection contact, Boufides Insurance Agency at 508-587-7500 or fill out our online form above for your FREE Business Income Protection Quote today.
Massachusetts Insurance Agency offering Business Income Protection policies in
Brockton, Boston, Quincy, and Bridgwater Massachusetts.