Protect Your Business Income During a Power Outage

Whether it's a winter blizzard or a summer thunderstorm that takes place here in Canby, Oregon, severe storms can wreak havoc on your business. If severe enough, it could result in your business losing power, which means that you'll have to shut the doors for a bit. Many business owners assume that their standard business insurance contains coverage for this particular type of situation, but this is not always true.

Understanding Business Interruption Coverage

Some states offer an extended coverage for utility interruptions. It is typically known as Utility Services-Time Element and offers coverage for any income loss during an interruption of water supply, power or communications. As a general rule, this type of policy will offer reimbursement for profit loss as well as continuing expenses until your service has been restored and up to the policy limit.

When selecting coverage, it is important to determine whether you need all three or just certain utility coverage. You may need help in doing this, which is why you can give one of our independent agents in Canby a phone call.

3 Things to Keep in Mind

When it comes to this type of coverage, remember that:

  • This utility services interruption coverage cannot be purchased as a standalone policy and must be purchased in conjunction with business income coverage.

  • If there is a deductible or waiting period for your business income coverage, then it will also apply to your interruption coverage.

  • In order for the policy to take effect, the utility loss must have been a result as a covered loss.

If your business heavily relies on any type of utility, then it is imperative that you consult with us about the utility interruption coverage. Our independent agents want to make sure that all businesses in the 97013 community are properly coverage in the event that their business has to shut its doors or need to replace electronics due to storm damage. Contact us today and let us help you!