Business income insurance, also called business interruption insurance, is one of the types of business insurance that can help your business survive by protecting it from catastrophic financial loss in cases of interruptions or closures. In the event of a covered peril like fire or falling objects, it shields entrepreneurs from lost income and other related costs related to the disruption they cause.
The time that the insured company is shut down and repaired is what is known as the restoration period. This period typically has a time restriction, which is usually 30 days. Fortunately, business owners can often extend the restoration period included in their policy for an additional cost.