Do you own a business in the Fargo Moorhead area? It’s time to start thinking about business income insurance if you haven’t yet!
What is business income insurance?
This type of business insurance is meant to cover losses related to an interruption of your regular business income. For example, if you have a restaurant that is forced to shut down due to a fire, business income insurance could provide you with the income you would have earned during the time your business is shut down.
But keep in mind, this coverage only applies if the business is forced to shut down due to a covered peril. For most businesses, that includes fire. But let’s say an earthquake happens and earthquakes are excluded from your policy. In that case, your business income insurance coverage would not apply.
Do I need business income insurance?
Here are a few types of businesses that business income insurance is almost always recommended for:
- Service-based businesses
- Businesses that rely on physical or digital property too earn an income
- Retail businesses with brick and mortar and online shops
What other types of business insurance do I need?
Every business is unique, which is why their business insurance policies should also be unique! Policies should be tailored to a business’s unique needs to make sure they have the coverage they need for whatever could happen.
Some businesses benefit from virtually all types of business insurance, while others might pick and choose from different options.
Here are some of those options that might be right for you:
- Commercial auto insurance
- Cybersecurity insurance
- Business liability insurance
- Workers compensation insurance
- Commercial property insurance
- Management and professional liability
- Employment practices liability
- Commercial flood insurance
- Surety and fidelity bonds
- Home-based business insurance
Choosing commercial insurance in Fargo-Moorhead
No matter what combination of commercial coverage is right for your business, we can help you find a policy that suits your business and your budget. Give Fargo-Moorhead Insurance a call today so we can get to know you and your business!