How Your Credit

Time Drags When You’re Losing Income Lost Business Income

Your business is closed because extra expenses? Just one year? you’ve suffered a fire. Your income Suppose it takes longer than 13 stops. How do you pay your bills, months to get back into business? your employees, yourself? When Will your insurance extend your lost can you start to rebuild? Should income payments? Geared you rebuild on the same site? How And, then once you’re back in much will it cost to develop new business, how long will it take for for building plans? How long will it take your business to reach the same the city to approve your new plans income level you were enjoying Success and issue you permits? before the disaster struck you? Do you know what to do if the What will you do for income during “worst happens?” Many times a that time? direct loss to your building will cause Suppose you’re renting your an even greater loss to your inter- building? Now, it may be quicker to ruption of business and all the extra find another rental property than to 3 minutes to expenses associated with the loss. rebuild a building you own, but who For example, you suffer a severe will pay for the increased rent you insurance fire that destroys the entire may have to endure? inventory that you would sell. Your Will you have the funds to pay for understanding business income insurance pays the massive advertising and mailing you for your lost net profit and your campaign you’ll have to wage to … continuing expenses, even though attract your old customers to your your operations have ceased. new location? And again, where will Your insurance is limited to the you find the money to sustain you Save money length of time required, with exercise until your business reaches the level of due diligence, to repair, rebuild, it was before you suffered the loss. and cover your or replace the part of the property There is no question that these that has been damaged or destroyed. fatal gaps. “hidden” losses cost much more Suppose, however, that because than the direct losses. Be sure to of city building code changes you realistically zero in where you stand must build a completely different if you “suffer the worst.” type of building and comply with  How do current city building the stringent rules of American codes apply? Disabilities Act.  Would you rebuild at the same Plans take 4 months to complete. location? The City review process takes three  How long will it take you to reach months. Permits take another two and your current income level after construction is scheduled for four the loss? months. How much income will you  How many employees could you lose during 13 months? Do you afford to keep on the payroll? have enough personal resources or  And with all the red tape to business income insurance to building how long will it take sustain you? Suppose there is a before you can again. construction delay? Don’t let time drag by when the How long does your policy pay worst happens ABC Insurance you for lost income and all those