The Mitchell Agency LLC believes that your small business is unique. Your business doesn’t have the same needs as other Alabama businesses, and that should be reflected in your insurance policies. We can help you assess your risks so you have the coverage you need without purchasing coverage you don’t need.
Business Owners Policy (BOP)
Many small businesses choose to use a BOP as a way to save money and streamline their insurance procedures. A BOP usually has general liability insurance, commercial property insurance, and business income and extra expense (BIEE) coverage. BIEE coverage will protect you if your business is temporarily closed because of a covered loss, such as damage from a fire.
If you do not have BIEE coverage, you can purchase a temporary business closure policy separately.
Why Do You Need Temporary Business Closure Protection?
When your business is closed, you can’t make any money, but you usually have the same expenses and bills. You still have to pay for your property, your utilities, and even your insurance. If you have employees, you need to keep paying them even when you aren’t getting paid yourself.
Your temporary business closure coverage will help to compensate you for your lost income. You will need to be able to document how much money you should be making during the closure. Talk to your agent when you purchase your policy about how to document that.
Reach Out To Us
Protect your small Alabama business. You don’t want to suffer a major setback over something you can protect yourself from. If you would like to talk about business interruption insurance, or if you have any other questions about your commercial insurance, please call The Mitchell Agency LLC today.