“Running a business can be difficult without the right business insurance. One coverage most businesses need is business interruption insurance, also known as business income insurance. It can help replace any income your business loses if you can’t open for a time after a covered loss.”
Those words appear on a major insurance company’s website, as it, like insurers across the country, tries to entice small business owners to plunk down anywhere from a few hundred to a few thousand dollars a month for business interruption coverage that promises to help “pay bills, replace lost income and cover payroll when a covered event forces your business to close temporarily.”
Well, if ever we were in a situation where that’s the case, it’s now. But now that the owners finally need this coverage to keep their small businesses afloat, insurance companies are telling them they’re not covered for COVID-19 related closures.