What would you do if you couldn’t conduct business for an extended period of time? Would you be able to survive if damage occurred and you were out of business for several weeks or months?
The answer for most small business owners is no.
Business interruption insurance can be as vital to your survival as a business owner as fire, flood, or any other type of business insurance. Most people would never consider opening a business without buying insurance to cover damage due to these types of risks.
Unfortunately, too many small business owners fail to think about how they would manage if a fire or other disaster damaged their business premises to the point where they were temporarily unable to conduct business.
Business interruption insurance covers you for lost income if your company has to vacate the premises due to disaster-related damage that is covered under your property insurance policy, such as a fire.
It also covers the revenue you would have earned, based on your financial records, had the disaster not occurred. The policy also covers operating expenses, like electricity, that continue even though business activities have come to a temporary halt.
How much is Business Interruption insurance?
The price of the business interruption policy is related to the risk of a fire or other disaster damaging your premises.
All other things being equal, the price would probably be higher for a restaurant than a real estate agency for example because of the greater risk of fire.
Also, a real estate agency can more easily operate out of another location.
Call our office today to discuss your options, or head over to our quotes page to get the process started!
Irvine
Irvine (pronounced /?rva?n/ ur-vyn) is an incorporated city in Orange County, California, United States. It is a planned city, mainly developed by the Irvine Company since the 1960s. Formally incorporated on December 28, 1971, the 66 square mile (172 km2) city has a population of 212,375 as of the 2010 census. However, the California Department of Finance estimates its 2011 population to be 219,156. It has annexed in the past an undeveloped area to the north, and has also annexed the former El Toro Marine Corps Air Station, most of which is planned to be converted into the Orange County Great Park.
Because of its good schools, jobs, and housing, the city was chosen in 2008 by CNNMoney.com as the fourth best place to live in the United States. In June 2010, the Federal Bureau of Investigation reported that Irvine had the lowest violent crime rate among cities in the United States with populations of more than 100,000, and in August 2008 the Census Bureau ranked Irvine as having the seventh highest median income among cities in the United States with populations of more than 65,000.
Irvine is home to the University of California, Irvine (UCI), Concordia University, Irvine Valley College, the Orange County Center of the University of Southern California (USC), and the satellite campuses of Alliant International University, California State University Fullerton (CSUF), University of La Verne and Pepperdine University.
Irvine, city, Orange county, southern California, U.S. Adjacent to the city of Santa Ana (northwest), Irvine lies about 40 miles (60 km) southeast of Los Angeles. Originally inhabited by Tongva (or Gabrielino) Indians, the area was explored by Gaspar de Portolá in 1769. The land that would become the modern city (and one of the largest planned cities in the United States) was composed of parts of Ranchos Santiago de Santa Ana (1801), a Spanish land grant, and San Joaquin (1837) and Lomas de Santiago (1846), both Mexican land grants. By the 1860s much of the land had been acquired by sheep ranchers Benjamin and Thomas Flint, Llewellyn Bixby, and James Irvine (for whom the city is named). By 1876 Irvine had purchased the entire tract of what became known as the Irvine Ranch. His son inherited the land and established the Irvine Company in 1894. Irvine subsequently developed into a farming community, with crops that included barley, lima beans, olives, asparagus, strawberries, and oranges. During World War II, t
wo U.S. Marine facilities were built on land formerly owned by the Irvine Company. The University of California, Irvine, was established in 1965 and is now the city’s leading employer; the campus houses the Irvine Barclay Theatre, which hosts concerts and other entertainment. The city is also the seat of Concordia University (1976) and a community college (1979). Other notable attractions are an amphitheatre, which holds up to 15,000 spectators for outdoor concerts, and the Irvine Museum (1993), which features California art from the Impressionist period. Irvine Ranch Land Reserve, with some 50,000 acres (20,000 hectares) of protected land—which constitutes more than half of the historic ranch—is popular for hiking, horseback riding, and bird-watching. John Wayne Airport, immediately west of the city, serves Orange county and is among the busiest airports in the United States. Laguna Coast Wilderness Park is adjacent to the southern part of the city, and the Santa Ana Mountains are to the east. Crystal Cove S
tate Park is nearby. Inc. 1971. Pop. (2000) 143,072; Santa Ana–Anaheim–Irvine Metro Division, 2,846,289; (2010) 212,375; Santa Ana–Anaheim–Irvine Metro Division, 3,010,232."
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Business Insurance Lake Forest, Business Insurance Dana Point