At Modern Risk Management, we offer commercial insurance to Houston, TX business owners, and those around the area. Business income insurance is one of the numerous types of commercial insurance available.

Every business is different. If you are determining which types of commercial insurance to purchase, you need to understand what business income insurance is. Business income insurance compensates your company if the business operations must cease temporarily.

Regardless of how secure your business is, it’s always possible that an unexpected event could come up and interfere with normal business operations. For example, a natural disaster could destroy your place of business. In this case, you cannot continue business operations until your commercial facility has been repaired or replaced.

Business income insurance will compensate you if something like this occurs.

Business income insurance ensures that your company will continue bringing in money even after an unforeseen accident.

You enjoy peace of mind with business income insurance. As a business owner, your company is your livelihood. If you have an accident that stops revenue from coming in at your company, you may find it difficult to keep up with bills and employees. Business income insurance can, therefore, be a financial lifesaver for business owners in the event of an accident.

In addition to covering lost income, business income insurance can also cover the costs of overhead and temporary relocation.

Business income insurance doesn’t just provide coverage for lost income. It can also cover the costs of re-establishing businesses while functioning at a new location. Business income insurance thereby minimizes the costs of events that disrupt your company’s operations.

Please contact us at Modern Risk Management to learn more about business income insurance for Houston, TX business owners.

We at Modern Risk Management, know that your home is your most valuable asset. It is critical to know what questions to ask when considering an insurance policy. You will want to make sure you have a comprehensive homeowners’ insurance policy in place.

What type of disasters does the policy cover?

So many homeowners are surprised to learn that the policy does not cover all disasters. Typically, a homeowners’ policy will cover fire, lightning, windstorm, vandalism, theft, and hail. However, most policies will not cover disasters such as earthquakes or floods. As residents of the Houston, TX area, it is critical to speak with your agent at Modern Risk Management about adding flood coverage to your homeowners’ policy.

How much personal property coverage should I purchase?

So many people underinsure their personal property because they do not have a solid understanding of how much their belongings are worth. It is critical to take inventory of everything in your home, including furniture, electronics, valuables, and appliances, to come up with an accurate number for your personal property coverage.

How are insurance claims handled?

Knowing what the process of filing a claim is can be essential to making sure you receive insurance payouts quickly. You should know if you can file online or over the phone. Also, you should understand what documentation might be required of you to file a claim.

Does my policy offer replacement coverage or actual cash value?

If your policy provides replacement cost coverage, the insurer will pay the full cost to rebuild your house in today’s’ market. An actual cash value policy takes into consideration depreciation, which means you could end up paying additional money to rebuild your home.

If you are interested in learning more about homeowners’ insurance, reach out to an agent at Modern Risk Management today. We proudly serve the Houston, TX area.