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Financial Protection for Small Businesses with Business Interruption Insurance - VA, MD, DC

August 21, 2013      

Last week was the decade anniversary of the largest black out of all time in America. One electrical grid outage cascaded into causing 8 states and 55 million people to lose power.  This same black out shut down thousands of small businesses. Business interruption is not a matter of “if” it is a matter of “when”.

Businesses can be shut down for any number of reasons: transformer failure, fire, flood, tornado, hard drive crash or computer virus. In fact, a survey showed that three out of four small business owners believe they will have a business interruption event in any given year. Are you prepared to deal with a business interruption event?

A majority of working capital for most small businesses is from cash flow. The money coming into the business in the form of sales and revenue. What would happen if your cash flow was interrupted?

All small business owners should consider purchasing a business interruption insurance rider on their business’s property and casualty insurance policy. Business interruption insurance will pay cash in the case of a loss. Be sure to talk to a business insurance broker because all insurance policies are not created equal.

For more information on business interruption insurance, contact TriState Business Insurance.

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