As you prepare your company for the roads ahead, make sure your business is safeguarded with business income coverage. This insurance protects your business's profits, should one of the following events occur:

  • Extended Interruption.
    You’ve never considered business income coverage because you’ve got a nest egg and could financially recover from a few days without sales. However, what if a fire broke out in one part of your building, causing smoke damage that will leave it uninhabitable for a few weeks. Your nest egg won’t cover the ongoing costs of employee wages and utility bills for that long. Depending on the limits you set with your independent agent, business income coverage could reimburse you for the profits lost during an extended interruption.
  • Lost Merchandise
    Imagine that a natural disaster resulted in the loss of merchandise on your shelves or in your stockroom. Your building remains intact, but you’re losing out on sales because you’re working with limited product and it takes some time for those items to be replaced. Business income coverage will provide for the profit lost during that time.
  • Broken Equipment
    Power surges and outages can result in the loss of everything needed to make your business operational. Consider how many of your customers use credit cards to complete their transactions, and then imagine how your sales would be affected if your credit card machine went down. Business income coverage provides reimbursement for profits lost due to equipment failure.

When most people think of insurance, they think of the coverage needed for their property.
However, as a business owner, you have to be prepared to protect the well-being of every aspect of your business, whether that be property or profits. Business insurance is a critical element in the successful long-term planning and execution (even survival) of any business today, and smart business owners know that.

If you are in the market for insurance for your business, talk to an independent agent today about Preferred Mutual Insurance Company's business insurance, and know that you'll have the flexibility and control to arrange the coverage options you want into an insurance solution that fits the needs of you as a business owner. 

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