Business Interruption Insurance Coverage

All too often many small businesses are inundated with the deluge of responsibilities involved in Business Interruption Insurance coverage is one of those important coverages that cannot be overlooked when purchasing a business insurance policy. The coverage is vital to the survival of a business in the event of a loss that would result in moving the operation elsewhere. It is not sold separately.

managing the delicate balance of running a business.

It is normally included in a Business Package policy. At County Insurance Group we take time out to listen to our customer’s needs and make sure that the Business Interruption  Policy will have adequate coverage for revenue you would have earned in the event of a loss. We make sure the policy limits are sufficient to cover your company for more than a few days.

There is generally a 48 hour waiting period before the coverage kicks in. The policy also covers operating expenses, like electricity that continue even though business activities have come to a temporary halt. Due to the rising numbers of natural disasters businesses may want to make this coverage a priority.

There are sometimes some common limitations on most standard policies such as coverage only for loss to tangible items and not lost profits if your business cannot operate. If your profits are substantial you will need to document your current income.  Also be aware of low per incident limits. If your company is growing quickly, document many months of profit to demonstrate that the income is growing.

Clarity of what interruptions are covered and which ones are excluded is paramount for an understanding of the policy. For example if there is a fire that destroys a warehouse and the new warehouse costs more than the old one the policy may cover at the old rate and not at the new rate. Likewise a building replacement may require new codes and increased building cost. To cover this you need an “extra expense rider”.

Your business can also be at risk when a related business is affected by disaster. For example in the event of an explosion at your website host’s server could take your site down or a key supplier maybe unable to deliver if it is wiped out by hurricane. These events hurt your financial results even though your facility may be undamaged.

Contingent Business Insurance covers lost profits in these disaster situations. Selecting a well informed Insurance Agent can make all the difference when you have the need to adequately cover your business. Call us or come and visit us at County Insurance Group for all your business insurance need.

Get A Quote on Business Interruption Insurance Coverage. Protect your income and your investment for the long term.

Caribbean Heritage Month

Currently the population of Caribbean Americans in Ft. Lauderdale, Florida, South Florida and the entire United States total approximately 10 million. They come from 30 different islands including Haiti,Dominican Republic, Puerto Rico and Jamaica. In the melting pots of the larger metropolitan cities of New York, Washington D.C, Boston and Atlanta nearly every island is represented there. There are pockets in Brooklyn New York where the entire neighborhood is completely populated with Caribbean people. Caribbean Americans have played an important role in the shaping of America since its founding. To help bring attention to this long and diverse history Dr. Claire Nelson founded The Institute of Caribbean Studies (ICS) in 1993 to bring attention to and advocate for the concerns of the Caribbean-American community in both the private and public sector. This effort included national recognition of the Caribbean-American Heritage and in 1999 ICS sent a letter to President Clinton requesting a month dedicated as Caribbean-American History Month.

It wasn’t until 2004 that Congresswoman Barbara Lee introduced legislation for such a proclamation. Reintroduced a year later the House unanimously passed Congresswoman Lee’s bill in June 2005 and the Senate passed their own legislation a few months later in February 2006, leading to President George W. Bush issuing the first Presidential proclamation declaring June Caribbean-American Heritage Month on June 5, 2006.

The month of June is now celebrated with festivities and a myriad of events all over the country to commemorate the time. We at County Insurance Group warmly celebrate this acknowledgment of our people to the social fabric of America.

We specialized in providing Insurance Coverage to the Caribbean community, Business Insurance, Automobile Insurance, Home Insurance and Liability Coverage.

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