Calabasas, CA
“Business income insurance helps protect your most important asset -- your business,” said Joseph Norena, of Bridge Norena & Associates Insurance Agency. “In most cases it is your primary source of income, and your employees have come to depend on your ability to schedule them to work and receive compensation.”
Most businesses that permanently close as a direct result of a covered loss fail to re-open not because they did not have sufficient building and/or business personal property insurance, but because there’s no revenue coming in while the insurance was restoring or making them whole.
A business can't survive without a source of income. Expenses like mortgages, leases, employee payrolls, insurance premiums (employee health plans, commercial insurance) or rental expenses must be paid. “These types of expenses continue even if the business is not open,” Joseph added.
Business income insurance can also protect a business from an indirect loss, such as a temporary closure of operations due to a covered peril like a fire. “It also pays for the increase in operating expenses that result from temporary closure or makeshift changes in operations,” concluded Joseph.
About Bridge Norena & Associates Insurance Agency
Bridge Norena & Associates is a family owned and operated insurance agency that provides a number of diverse insurance products to various types of state-licensed facilities within California. Its insurance services include package policies, business auto, workers’ compensation, student accident, special event and more. For more information, please call (818) 225-1627, or visit www.bridgenorena.com. The office is located at 23875 Ventura Blvd., Suite 103, Calabasas, CA 91302.
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