Do You Need Business Interruption Coverage?

If a fire or natural disaster caused your small business in Sandy, UT to temporarily close, would you have the financial resources to carry on? Business interruption coverage can provide the funds you need to maintain your business while your premises are under repairs. At Smart Way Insurance Agency, we encourage small business owners to consider what business interruption coverage has to offer.

Lost Income

A temporary shutdown can have a devastating effect on a company’s revenues. If your business has to close temporarily due to damages sustained in a fire or other covered peril, loss of income could cause a serious blow to your finances.

Business interruption compensates your business for lost income and operating expenses such as power and water, even if business activities have stopped. When deciding on coverage limits, take into account how long it might take you to re-open so you can obtain sufficient coverage to protect your assets during the time you are “down.”  

Rental or Lease Payments

If you’re renting or leasing a property that requires payment, whether it’s being used or not, business interruption insurance will cover this cost. If you decide to relocate temporarily, the business interruption will cover the cost of moving and renting a new location until repairs on your building are done.  

Employee Wages

Business interruption coverage will help cover your payroll during your downtime, so you don’t lose valuable employees.

Loan Payments and Taxes

Taxes and loan payments are also covered under a business interruption policy, protecting your interests when your company is down.

When you own a business, you need to be prepared for any eventuality. With ample insurance protection, you can have the confidence to make financial investments that will help your business grow.

To learn more about business interruption coverage and costs, contact Smart Way Insurance Agency, Sandy, UT. 

Is It Time for a New Life Insurance Policy?

Chances are that when you purchased a life insurance policy back when the first kids arrived or bought your Sandy, UT house, you weren’t thinking beyond the first twenty years. Now that the children have left the nest and your first policy expired, you are wondering if you really need a new life insurance policy from Smart Way Insurance Agency. Chances are good that you do.

Baby Boomers are Living Longer

As the science of medicine continues to discover new ways to help us live longer and more productive lives, the old system of protecting your assets until you reach the age of 65 or so simply isn’t wise anymore. Many Boomers are facing twenty years of retirement while paying exorbitant fees for medical care. Those decades of living off retirement plans and pensions can seriously deplete your assets. How will your spouse cover the costs of laying you to rest or providing for themselves without you? A term life insurance policy can help provide stability for the future in uncertain times.

Protect Your Children’s Inheritance

If your original plan included leaving the Sandy, UT house and your portfolio to your children and grandchildren, investing in a new life insurance policy can help you and your spouse protect their future. Eliminate the need to sell the family properties in order to cover taxes and extra expenses with life insurance designed to meet your budget and lifestyle. Instead of leaving behind a legacy filled with squabbling over the division of dwindling assets, you will ensure that more of your estate remains intact.

The fact is that a lot has happened over the years, and now that you and your children have found financial stability, talking to an agent at Smart Way Insurance Agency regarding a new life insurance policy can provide all the reassurance your family will ever need.