Living in Oklahoma and experiencing extreme weather first hand, most of us know that homes and businesses can be gone in a flash or that we can lose power for days or weeks due to power lines being down. If someone were to ask you if you had a catastrophe plan for your business, however, would you have to stop and think about it or do you have a plan in place?
Maybe you have a plan in writing or maybe you at least have a plan of action that you have thought about but have not written down, or maybe if you are like a lot of businessowners, you don’t have any plan at all. Your business can tend to run you and things just happen as they will. If you don’t have a plan in place it is questionable whether your business would be able to continue after serious damage from weather, off site power outage, fire or windstorm. You may want to consider business income insurance. This type of insurance policy is designed to supplement the resulting lost income as well as provide much needed dollars to pay continuing expenses. While commercial property insurance protects your real estate and contents, business income insurance protects your firm against loss to your firm’s profit-and-loss statement by covering continuing expenses, helping your firm preserve contractual obligations and retaining personnel.
Many business owners site cost as a reason not to purchase business insurance, or it isn’t required to get a loan so they don’t see a need. Even if a business has a business policy, an owner may assume that replacement of business income is automatically provided like damage to the building or other property. This error can cost money at claim time if you haven’t examined your policy to check what is covered and the proper limits needed. The good news is as your Oklahoma Independent Agent we at Perimeter Insurance Agency can help you assess your business and make sure you are properly covered. If you are not currently covered by business insurance we can help you assess your risks and needs and shop several companies to help you get the coverage you need at a cost that will fit your budget.
To read more information on this subject go to the following link at the Trusted Choice website: http://www.trustedchoice.com/Content/Articles/business-income-insurance.aspx
You can also click on the following link to download your free copy of The Consumer’s Guide to Small Business Insurance: http://www.trustedchoice.com/Content/Business/small-business.pdf
Act now and contact us today to set up your no obligation business review and set up your business catastophe plan to ensure that your business will survive disaster! We are committed to your success. There is no better time than now in December to be prepared for whatever happens to your business in 2013.