Severe weather can force your business to face harsh realities. The fact is that
40% of businesses forced to close due to a storm will never reopen1. But it’s not
the storm that typically wipes out a business. It’s the loss of income. Simply
put, without income, many small businesses may have difficulty continuing to pay
Loans and other financial obligations
That’s why The Hartford’s base Business Owner’s policy includes Business
Income Coverage. It can help pay ongoing expenses while a business that’s forced
to close due to severe weather takes the time to repair and recover.
And a storm doesn’t have to physically hit your business’ location to damage
Loss of power, communications, and other essential services can shut down your
business for days, even weeks. It’s why our Off-Premises Utility Services
coverage provides broad, robust coverage to protect your business income.
Income Protection Beyond Severe Weather
While severe weather is making the headlines, it’s not the only thing that
can cause your business to close. Fire, theft, and vandalism can threaten
your business as well. Even if you’re protected by property and casualty
insurance, the income lost while your business is being repaired or rebuilt
often is not covered.
Spectrum’s basic Business Income insurance covers:
Net Income (Profit or Loss before income
taxes) that would have been earned or incurred
Continuing normal operating expenses for up
to 12 consecutive months after the date of loss
Employee salaries and
Plus, with The Hartford’s Business Income insurance you have the option to
extend coverage for up to 12 months.
Did You Know?
A recent survey of small business owners showed that:
55% said they did not
have business income insurance2
63% said they were unfamiliar
with business income insurance2
60% said they didn't have the information
they needed to determine their risk2
The statistics add up to one very important fact. Most small business owners
are leaving themselves exposed, and unable to weather the consequences of