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NEWS BRIEFWildfire a Wake Up CallJuly 21, 2008 — Colorado's Oxyoke Fire near the town of Deckers reminds homeowners to take steps to lessen the chance of a wildfire destroying their homes. It's also a good time to review your home inventory and homeowners insurance policy to make sure you have the coverage you need.
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Business Interruption InsuranceWhat is Business Interruption Insurance?If a catastrophe, such as a fire, causes your place of business to be temporarily unusable, your business may have to relocate or even close down for awhile. Business interruption insurance (also known as business income coverage) is designed to help in these situations. Business Interruption Insurance Covers:
How to Purchase Business Interruption Insurance:Business interruption insurance is not sold as a policy by itself. It may be added onto a property insurance policy or included in a package policy, such as a business owner's policy (BOP). Check with agents for different options.
What is Extra Expense Insurance?Extra expense insurance reimburses your business for reasonable expenses beyond normal operating expenses that keep the business from shutting down during a post-disaster restoration period. Usually, extra expenses will be paid if they help decrease business interruption costs. Some companies may find extra expense coverage sufficient without business interruption coverage. Information provided by the Insurance Information Institute |
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Updated:
February 28, 2007 1:52 PM
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