Business income insurance, also known as business interruption insurance, provides coverage to businesses that lose income and incur expenses due to a covered loss, typically associated with physical damage or civil authority and dependent on your specific policy language.
1. Read the full policy for coverage, exclusions, deductible, your rights, terms, and conditions.
2. Put your insurer on notice of loss in writing if you anticipate a loss of income with an explanation of why you believe your loss is covered.
3. Submit your mitigation expenses and financial records evidencing the actual and/or anticipated damages to your business that exceed your deductible.
4. Work with your insurer.
5. If your insurer denies your claim, they are required to provide you with an explanation.