Business interruption insurance is one of the first things that business owners should get upon starting a company. You can lose thousands of dollars if you don’t as the unexpected does happen and it can mean loss of product, which means loss of income, and if there is any damage to your building, the repairs are also very costly. Imagine all these components and an insurance company that doesn’t want to pay you what you should be covered with by them.
Remember that if your business must be repaired or if takes time to replace equipment, you may not be able to work during this time, which means that you can be losing a large chunk of money. It is worth it to win all your claims and fight for what you deserve.
At American Premier Claim Consultants, we have a lot of experience working with businesses and their claims, so we know what you need and we have the expertise to ensure maximum recovery.
How do you calculate lost business income?
Simply, take the difference in revenue and then deduct the loss incurred as a result of not having sales to calculate loss income from a business interruption. To put it another way, figure out projected sales, remove them from the equation, and subtract expenses saved as a consequence of not having those sales.