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.
La Habra is a city in the northwestern corner of Orange County, California. In the 2010 census, the city had a population of 60,239. Its related city, La Habra Heights is located to the north of La Habra, and is in Los Angeles County.
In the ranchos days when vast herds of Mexican cattle and horses grazed over the hills and valleys of Southern California, Mariano Reyes Roldan was granted 6,698 acres (27 km2) and named his land Rancho Cañada de La Habra. The year was 1839, and the name referred to the “Pass Through the Hills,” the natural pass to the north first discovered by Spanish explorers in 1769. In the 1860s Abel Stearns purchased Rancho La Habra. Soon thereafter, heavy flooding followed by a severe drought brought bankruptcy to many cattle ranchers.
The first La Habra Post Office was established in 1898 in a corner of Coy's Store at Central (now La Habra Boulevard) and Euclid Street.
La Habra, city, Orange county, southern California, U.S. The city lies just north of Fullerton and southeast of Los Angeles. Its name derives from the Spanish abra (“pass”), with reference to an opening in the nearby Puente Hills. A land grant, known as Rancho La Habra, was made in 1839, and cattle ranching quickly developed. The city was founded in 1896 and became a commercial centre for an extensive agricultural area (citrus fruit, avocados). A packinghouse was built after the arrival of the Pacific Electric Railroad in 1908. The nearby Coyote Hills oil fields were established in 1912. There is some industry, but the city is primarily a bedroom community of the larger Los Angeles area. La Habra hosts an annual corn festival. Inc. 1925. Pop. (2000) 58,974; (2010) 60,239.