Does Commercial Property Cover Lost Income?

Business income is a time-element coverage that may accompany commercial property or a businessowners policy. It addresses certain lost income during an interruption following covered property damage; the commercial-property section pays for the physical damage itself. The policy may require a suspension of operations, a covered cause at an insured location, and a waiting period before the income loss begins. Limits and restoration periods can cap recovery.

Check whether the quote includes business income, the income limit or actual-loss-sustained wording, the waiting period, period of restoration, and extra-expense terms. Review exclusions for the cause of damage and any separate utility, supplier, or civil-authority coverage. Do not assume that every closure or reduced-sales period qualifies.