Business Interruption Insurance for Vermont Companies
For many Vermont businesses, a large percentage of revenue goes into paying fixed expenses, such as rent and utilities. If your business is forced to close due to a fire, storm damage, or other event, your may revenue dry up, but the bills won't stop coming. This can spell disaster for your business, with as many as 25% of businesses that temporarily close never reopening. Business interruption insurance can help cover your expenses, helping your business to avoid this fate.
When a disaster strikes, you typically turn to your property insurance to cover the costs of making repairs. While Vermont property insurance is essential coverage, it leaves a dangerous gap if your business must close while repairs are made. Without revenue coming in, many businesses cannot pay their on-going expenses, taxes, and employee salaries, making it very difficult to reopen even once repairs are completed. Business interruption insurance fills this gap, helping to minimize the financial impact of a closure on your company.