When you run a company, it's an adventure and a risk all in one. While it's impossible to know what's around every corner, you can be prepared. Mississippi commercial insurance will have coverage for business interruption so that you're protected from all the what-ifs.

Fortunately, a Mississippi independent insurance agent has access to several markets so that you're fully prepared. They'll even do the shopping for free, saving you time and money. Connect with a local adviser to get started in minutes. 

What Is Business Interruption Insurance? 

In Mississippi, your operation could get shut down for any number of reasons. When you have a loss that closes your doors, this coverage can help.

• Business interruption insurance: Pays for regular business expenses in the event of a covered loss. This coverage will help your company avoid closure.

Leading risks to businesses in the US in recent years

The number one exposure to small businesses is interruption of operations. When a claim arises that closes your company for a time, you'll need the proper protection to be covered.

What Does Business Interruption Insurance Cover in Mississippi?

What's included under your policies is the key to having the right coverage. Business interruption insurance will provide protection for the following items:

• Income: This is based on what your business historically made during the same period in the previous year.
• Payroll: Any payroll you typically pay out to employees will be taken care of under this coverage.
• Taxes: If your loss occurs during tax season, you'll have coverage for business taxes due.
• Rent or mortgage: If the building you occupy is unusable, the rent or mortgage will be paid by this coverage. 
• Relocation: If you have to move to a temporary location, business interruption will help pay the bill.
• Loans: Any loan payments you have incurred are part of this regular expense.

The Cost of Business Interruption Insurance in Mississippi

Every commercial insurance policy premium will vary and depends on the individual risks associated. Check out which catastrophes are most common in Mississippi:

Mississippi natural disasters that will impact your premiums:

1. Severe storms and lightning damage
2. Burglary and other property crimes
3. Hurricanes and tropical storms
4. Tornadoes
5. Flooding and water damage

The number of natural disasters in the US in one recent year, by type

Natural disasters can destroy your business in a matter of minutes. Once a loss occurs, it's too late to go back and select the proper coverage. That's why it's vital to have enough limits from the get-go.

Business Interruption Insurance Exclusions in Mississippi

All insurance policies come with a list of items they will not include. Your commercial insurance is no different. Check out some standard exclusions that could apply to your Mississippi business interruption coverage:

• A pandemic: When a pandemic occurs, neither your business interruption nor any other commercial policies will provide coverage for closure.
• Flood insurance: If you don't currently have a flood insurance policy, you won't have coverage for flooding under your business interruption coverage. A separate flood policy is necessary.
• Earthquake insurance: If you don't have earthquake insurance before your business is compromised, interruption coverage won't cover damage for this. Limits can usually be added to your primary policies.
• Undocumented income: If your business is used to not leaving a paper trail, then you could be at a loss. Business interruption coverage only applies to income that you can prove.

Indemnity Period for Business Interruption Insurance in Mississippi

In Mississippi, you can protect your operation in one of two ways. The first is through a preselected limit of insurance. The second is by a predetermined period of time. Business interruption insurance will use a time frame called the indemnity period.

• Indemnity period: The amount of time a specific coverage will pay out a covered loss. 

Business Interruption Insurance and Extra Expense Coverage in Mississippi

There can be additional expenses that your company did not anticipate after a loss. Your business interruption insurance will come with an option to add coverage for extra costs, so you're not left paying these out of pocket.

• Extra expense coverage option: This will pay for additional costs outside of your regular business expenses caused by a covered claim.

How to Connect with an Independent Insurance Agent in Mississippi

Your Mississippi company will come with several coverage options, making it challenging to know what applies to your business. When you have a loss that shuts you down, it pays to have a knowledgeable adviser. Fortunately, a licensed professional can help with premium and coverage options.

A Mississippi independent insurance agent does the hard work for free. They'll shop your coverage through a network of carriers so that you're obtaining the correct limits of business interruption insurance. Connect with a local expert on TrustedChoice.com for custom quotes today.