Oklahoma is susceptible to the tornadoes that hit the mid-west every year. Businesses are shut down until the coast is clear. Downtime is part of commercial insurance, as is handling wages, the lease on the building, the cost of inventory, taxes, and more.
If you’d like to see your business the way it was pre-storm, then you need to talk to Vance Insurance Group LLC in Oklahoma City, OK. We’re here to help.
Business Interruption Insurance
Let’s say a tree is uprooted, falling on the roof of your Oklahoma City, OK building. It wouldn’t be safe for you or your staff to use the building until it’s repaired. Business interruption insurance kicks in to make the payroll, pay the mortgage on the building, pay the taxes, pay for a temporary space to run your business and make up any financial losses from the closure of your business.
What Does Business Interruption Insurance Not Cover?
Some things aren’t related to closure, such as the utilities. They’d be cut off anyway due to damage to the structure. Other things that wouldn’t be included in business interruption insurance are:
• Flood or earthquake results. Insurance companies have different policies for these types of disasters. You’d open that policy in conjunction with policies you already hold.
• Anything broken. If your stock or other things were broken during the disaster that closed your Oklahoma City OK business, the insurance won’t handle that.
• Other than reported income. If it’s not on the books, it’s not covered.
Give Us A Call
Returning your business to its pre-storm state is as simple as consulting Vance Insurance Group LLC in Oklahoma City, OK. We’ll make sure the important aspects of your business are covered. Just stop by to see us or call. We’re ready to help.