Business Interruption Insurance 2021

September 02, 2021 Blog

During the Covid-19 shutdowns, many businesses reassessed the value of a comprehensive business interruption insurance plan. Understandably so, as the United States had never faced a pandemic in modern times that resulted in business closures. Many businesses (of all proportions) were left wondering what they could have done to protect their business and employees against such unforeseen circumstances. The resounding answer by the insurance industry: business insurance.

business interruption insurance 2021

Business Interruption Insurance Explained

When the pandemic hit and states began to close down, some businesses actually already had business interruption insurance coverage. Yet, as business owners discovered, what business interruption insurance covers varies greatly, depending on the policy and provider. So let’s get down to the details, explained by Business Insurance Center experts. 

What is business interruption insurance? 

Business interruption insurance is also known as business income insurance. The purpose of having such insurance is to protect against monetary loss when businesses are unable to operate because of a covered event. Business interruption insurance policies usually come at an additional premium that can be purchased as part of a business property insurance policy.

What is covered in a business interruption insurance plan? 

Covered events for such policies usually involve property damage of some kind. In most cases, business income insurance covers lost net income, rent or lease payments, employee wages, taxes, and loan payments.

What are business interruption exclusions?

Most business interruption insurance plans do not cover damages or losses from natural events, such as flooding, earthquakes, etc. As business owners found during the Covid-19 shutdown, many business interruption insurance carriers consider pandemics and viral outbreaks to be natural events. This means Covid-19 was excluded from coverage for many plans unless an additional coverage was specified in the purchased policy.

Business Interruption Insurance Coverage 2021

The business interruption insurance outlook 2021 is a drastically different one than in years past. As the usual flow goes, demand drives supply. Many businesses suffered great losses in the shutdowns and this revealed a desperate need for business interruption insurance that covers pandemics. What does this mean for business interruption insurance policies in 2021? BI insurance coverage in 2021 will likely change due to the recent global pandemic and the ongoing fall-out from the closures. Additionally, the cost of business interruption insurance premiums 2021 may increase. Insurance carriers in several states are being put to task by legislatures to retroactively pay for losses incurred during the pandemic shutdowns. This will likely come at an incredibly high cost for business interruption insurance companies due to the sheer number of policies they may have to pay out. That may, in turn, raise the costs of BI insurance 2021

Best Business Interruption Insurance Carriers 2021

That leaves us with the question: who needs business interruption insurance 2021? Any business that wants to protect against monetary loss due to unforeseen events, including pandemics, should get a BI insurance policy in 2021. It is important to select an experienced business interruption insurance agency that can ensure that your business gets the coverage it needs with no gaps that leave you unprotected. In other words, make sure your 2021 business interruption insurance coverage includes pandemics! The Business Insurance Center has over 30 years in the insurance industry. Our qualified personal guides are ready to provide you complete peace of mind with a customized business interruption insurance policy today! 

Request a free quote!


Insurance for commercial vehicles

Learn More


CYBER CRIME insurance policy

Learn More


RESTAURANT Insurance quotes

Learn More


Insurance for construction site

Learn More


CONDO ASSOCIATION Insurance quotes

Learn More


DAY CARE Insurance quotes

Learn More


Insurance for Farms

Learn More


SMALL BUSINESS Insurance specialists

Learn More


JANITORIAL insurance quotes

Learn More


Insurance for factory

Learn More


Workers compensation insurance quote

Learn More


Nursing Home insurance quotes

Learn More


Insurance quote for store

Learn More


Insurance for company directors and officers

Learn More


Insurance for manufacturing

Learn More

Business Insurance News

best covid 19 insurance for employees

Employee Focus During Covid-19


September 02, 2021

Covid-19 has made a major impact on the business world, and we have barely begun to understand or experience its effects. Many businesses had to transition constantly over the past 18 months with layoffs, closures, flex scheduling, remote work opportunities, and so on. More employees are working from home than ever before, so employees now …

5 Best Insurance Coverages for Businesses in 2021


September 02, 2021

When someone talks about “business insurance...

Business Insurance for Remote Employees in 2021


September 02, 2021

The recent pandemic has resulted in major changes ...


*Disclaimer: Insurance products are subject to terms and conditions, as well as exclusions that we cannot define on our website and blog. The content published here is only intended to provide you with an overview and general information about policies and products in the insurance industry. YOUR policy will carry details of the specific coverages, terms, conditions, limitations, exclusions. These will be governed by the underwriting guidelines applicable in your state.

If any policy provision is in conflict with the information provide on our website, blog or by any of our agents, kindly note that the policy language is controlling and supersedes all other sources. For more information, please contact your local office of The Nowell Agency.

Business Insurance Center is licensed to serve all of these states: AL, AK, AZ, AR, CA, CO, CT, DE, FL, GA, HI, ID, IL, IN, IA, KS, KY, LA, ME, MD, MA, MI, MN, MS, MO, MT, NE, NV, NH, NV, NH, NJ, NM, NY, NC, ND, OH, OK, OR, PA, RI, SC, SD, TN, TX, UT, VT, VA, WA, WV, WI, WY, Give us a call and let us show you why choosing Business Insurance Center is the right choice.

© Business Insurance Center Website & Marketing By Nuzu