California fires will "spark" questions on coverage

While the embers are still smoldering, business owners in the area are getting a chance to find out if the policies they purchased will actually take care of their various claim situations. While some may have experienced property losses due to the fire, many others were likely forced to close down due to the evacuation orders from civil authorities. When this happened their incomes were severely affected. When a business owner is faced with this dilemma the main problem is that daily expenses are still accruing. In most cases creditors aren't going to give you a break from paying just because you were closed, the money is going to have to come from somewhere. An important part of any business owner's commercial insurance policy is coverage for loss of business income. When the policy is initially written it is important that the insured review with their agent the most important expenses that will need to be covered in the event of a covered loss. The major expenses for example could be payroll, rent, or utilities. These are all standard expenses most businesses have in common. Also consider any expenses unique or specific for your type of business. While a commercial business insurance policy can be extensive, this is one coverage that careful attention should be given to. Don't forget to review this annually, since unfortunately, expenses tend to go up, thereby requiring an adjustment occasionally on the limit.