Business Income Insurance

In our opinion, one of the most important things we discuss with a business owner in regards to commercial insurance is the business income. This is the issue that business owners most often do not understand and miss when it comes to insurance to value. Business owners understand that if their building burns down, we're going to bring them a check to replace it. If their business personal property inside the building burns down as well, we're going to bring them another check to replace that. What they don't understand is how they're going to get the money to continue all of their normal operating expenses. For example: their mortgage, their auto loans, their insurance program, their group health insurance and, most importantly, their payroll. That coverage is what we call business income. If a business owner is not adequately insured when it comes to the business income coverage, they are at risk of losing their business. We routinely see owners dramatically under-insure when it comes to this. At WIN, we've spent the past twenty-five years studying these business income issues in-depth. Because of this we are uniquely qualified to discuss this and bring important issues to the table. There are many times that we have seen the business income loss on a significant claim actually exceed the building and personal property loss. This is a concept that business owners often overlook, and is something that we absolutely emphasize.