BUSINESS INCOME & EXTRA EXPENSE INSURANCE IN MASSACHUSETTS

Get A Business Quote

Helping Massachusetts businesses find the best coverage and price since 1959.

What Is Commercial Business Income Insurance?

Commercial business income insurance is a type of coverage that protects against loss of income due to damage to physical property. In addition to payroll, commercial business income insurance may also cover rent, the cost of moving (if needed), and more.

business property insurance ma
Restoration Period

The restoration period is the timeframe when a business is closed, starting with the physical damage and ending when the property is repaired and normal business operations are resumed. There is typically a 24–72 hour waiting period, which will be defined in the insurance policy.

EXAMPLE: When a restaurant’s kitchen catches on fire the business income insurance will cover lost income during renovations/repairs.

business-income-extra-expense-insurance-broken-glass
Contiguous Commercial Business Income Insurance

Contiguous coverage is additional insurance that can cover income lost if a company can’t access the materials needed to make its product. For example, if a brewery or beer manufacturer can’t get hops because one of its supplying farms had a loss, contiguous coverage will help supplement income.

commercial-business-insurance-inventory
Do I Need Commercial Business Income Insurance?

Every commercial business should have income insurance. This includes online suppliers (like Etsy stores), brick-and-mortar stores, manufacturers and contractors, and more. Commercial business income insurance should be considered if a business sells tangible goods. It’s also beneficial for building owners, lessees, and landlords to have commercial business income insurance since they rely on tenants for income.

If you’re unsure if you need commercial business income insurance, reach out for more information. We’d be happy to help!

craft brewery business plan
Need urgent help with a claim? Contact us now.

Outside our regular business hours, press “9” when prompted, to reach our 24/7 call service or contact your carrier directly.

What Does Commercial Business Income Insurance Cover?

Commercial business income insurance covers the following:

 

  • Mortgage and rent payment
  • Payroll and taxes
  • Loans
  • Business expenses during a restoration/renovation period
  • And more

What Isn’t Covered Under Commercial Business Insurance?

This type of insurance doesn’t cover certain operating expenses, such as utility payments or product or merchandise loss. Those expenses may be covered by commercial property insurance.

Commercial income insurance does not cover:

  • Business losses due to government ordinance
  • Certain operating expenses, such as marketing, insurance, and R&D
  • Extreme weather events like earthquakes, floods, etc.
  • Diseases, viruses, pandemics, epidemics
How Much Does Commercial Business Income Insurance Cost?

The cost of commercial business insurance will differ for each company and its insurance needs. The main variable is a company’s gross sales over the past 12 months. Commercial business income insurance is generally affordable and is recommended for any business.

pay as you go workers comp insurance
Why C&S Insurance?

At C&S Insurance, we have the expert knowledge and industry experience to get your business competitive quotes. Our agents are the best in the field and will work with you to find the best coverage for your needs. We have access to national and local insurance carriers and can secure comprehensive coverage programs and competitive rates on your behalf. Contact us today for more information.

massachusetts insurance agency
Frequently Asked Questions
What Is Commercial Business Income Insurance?

Commercial business income insurance is a type of coverage that protects against loss of income due to damage to physical property.

Read More
How Do I Get Commercial Business Income Insurance?

Any business can apply for commercial business income insurance.

Read More
How Do I Know if I Have Commercial Business Income Insurance?

Business income insurance is attached to your property policy.

Read More
How Much Does It Cost?

The cost of commercial business insurance depends on your company’s insurance needs. The main variable is gross sales over the past 12 months.

Read More