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Benefits Of Business Interruption Insurance

By Business Insurance, Insurance, Specialty Insurance

Continuity is critical in business, and there are few things more important than continuous revenue and cash flow, particularly for small to medium-sized organizations. In fact, just one brief business interruption can be incredibly costly for an organization, often leading to serious reputational damages or long-term closures.

That’s where business interruption insurance can help. This form of coverage provides protection against a variety of common interruptions, including natural disasters, equipment damage, and vandalism. The following are some other major benefits of business interruption insurance.

Revenue

In the event of a disruption, business interruption insurance provides coverage for income your business would have earned during a closure period if it had been operating normally.

Rent or Lease Payments

Even if your premises are unusable following a disaster or other event, many leases still require that you make payments. Business interruption insurance allows you to continue making rent or lease payments, even while your business is not operating.

Relocation

In the event that your primary location is unusable following a disaster or other event, you will likely have to relocate in order to remain open and continue generating revenue. Business interruption insurance can cover the expenses of moving your business to a temporary location and may include both moving and rent costs.

Employee Wages

If you are unable to operate, it is likely you will not be able  to continue paying employees. Business interruption insurance can help you avoid losing staff while you’re closed by ensuring that you make payroll. This is especially important, as finding new employees is often more expensive than keeping them.

Loan Payments

If you have an outstanding loan, you will need to continue to make payments even if your business isn’t fully operational. Business interruption insurance will ensure you never miss a payment until you are fully operational again.

Want to Learn More?

Business interruption insurance is designed to give businesses access to the assets they need when they need it most. However, these policies can be complex, and it’s important to work with your insurance broker closely when seeking coverage. To learn more contact us today.

How Can You Be Better Prepared for an Audit?

By Business Insurance, Business Tools, Insurance

Audits Don’t Have to Be Scary

Take a look at this video that was designed to help you understand General Liability and Workers Compensation Audits. Understanding the Audit Process can help you be better prepared for future Audits to come.

Click the link below for a helpful checklist to make sure you have everything you need!

Audit Checklist

 

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Newark, DE 19711
Phone: 302-995-2247
Fax: 302-995-2220
Insurance@BHI365.com

 

 

DBT40 Honoree: John Boykin

By Announcements

John Boykin

Age: 36
Title: President/CEO
Workplace: B+H Insurance, LLC (BHI)

A former bartender and two-time college dropout, John Boykin entered the insurance game at age 23 for $8 per hour and only six hours of work per week. But he pushed himself, became a credible advisor, went to school full time, and six months later he was working full-time in the insurance industry. He gained the experience needed to eventually produce more than $1,000,000 in new business every year since 2007. As CEO at B+H Insurance, LLC (BHI), Boykin oversees more than 25 employees in five business areas.

Boykin volunteers and supports local charities, including the American Heart Association, atTAcK Addiction, Autism Delaware, the Boys and Girls Club, Delaware Hospice, the Elena Delle Donne Foundation, First Tee of Delaware, Habitat for Humanity, the Ministry of Caring, the Ronald McDonald House and the Mary Campbell Center. He also brings that philanthropic nature back to the office, forgoing a portion of his salary each year to reward employees for excellent performance as part of B+H’s “Pay for Performance” compensation program.

Delaware Business Times Announces the 2018 DBT 40 Awards Winners

By Announcements

40 under 40 leaders to be honored for Delaware Business Times, DBT 40 awards

Wilmington, DE (August 29, 2018) — Delaware Business Times is pleased to announce the 2018 DBT40 Awards winners. The DBT40 event pays tribute to these ambitious professionals who are making a name for themselves through professional excellence and community involvement. The honorees represent the best in a wide range of fields such as finance, law, non-profit, hospitality, education and technology.

The DBT40 are featured in both print and digital editions of the Delaware Business Times. Now in its 5th year, this special cocktail reception and awards ceremony has sold-out each year. This year’s winners will be profiled in the October 2nd issue of Delaware Business Times and celebrated at an awards ceremony on October 23rd at The Baby Grand.

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