PGU – Business Income Insurance
Too many businesses fail because they encounter periods of decreased or halted income that they cannot survive. If this happens to your business, you could be protected by PGU Business Income Coverage. Halts or slowdowns in income can happen as the result of damage to the workplace, loss of merchandise, or other factors. If youre covered for such catastrophes, you can prevent the loss of your business.
Damage to Workplace
Fire, flood, weather, or vandalism can damage your place of business, often making it impossible for you to continue operating, at least temporarily. Whatever stoppage of business your company experiences can be covered based on your financial records. If you’re covered and we can project how much you would have made, we can reimburse you for the loss of your business for a certain amount of time. This gives you the freedom to get your company back on track as fast as possible without panicking over how much you’re losing while doing it.
Fire, flood, weather, or vandalism can damage your place of business, often making it impossible for you to continue operating, at least temporarily. Whatever stoppage of business your company experiences can be covered based on your financial records. If you’re covered and we can project how much you would have made, we can reimburse you for the loss of your business for a certain amount of time. This gives you the freedom to get your company back on track as fast as possible without panicking over how much you’re losing while doing it.
Damage to Goods
Damage to your building may not be the only hardship that can put you temporarily out of business. If your goods are damaged, even if you’re covered for their monetary value, you may lose business while you’re replacing them. If this is the case, PGU offers protection against the loss of income caused by your company’s inability to operate. Once your goods are replaced and business is back underway, you’ll be grateful you had the coverage you needed to get you through a tight spot.
Damage to your building may not be the only hardship that can put you temporarily out of business. If your goods are damaged, even if you’re covered for their monetary value, you may lose business while you’re replacing them. If this is the case, PGU offers protection against the loss of income caused by your company’s inability to operate. Once your goods are replaced and business is back underway, you’ll be grateful you had the coverage you needed to get you through a tight spot.
Extent of Coverage
The extent of your business income coverage is determined in advance by your policy premium, and also by your financial records, which in times of crisis can indicate how much money you might have made during the affected period. Eligibility may also be influenced by other factors. Contact a PGU representative today to learn more about what sorts of limitations may apply to your business income insurance coverage.
Business income insurance is an important part of any business insurance policy. Without it, all the property, medical, and liability coverage in the world may not save your business from going under in the event of a hardship. Damage to your workplace or your goods can take you out of commission long enough that the profit loss alone can sink you. If youve got business income insurance from PGU, you can make sure that wont happen.