What happens to your business when disaster forces you to close? Most business owners assume their insurance has them covered — until they actually need it.
In this episode of The Legacy Lab, Ashley and Megan break down business interruption insurance: what it covers, where the gaps are, and why so many business owners discover the hard way that their policy wasn't quite what they thought.
From the coverage period problem to underinsurance to the specialty endorsements most people have never heard of, this episode walks through everything you need to know before you ever have to file a claim.
1. What business interruption insurance actually covers — and what triggers it
2. The restoration period vs. extended period of indemnity, and why the difference matters
3. Why COVID-19 exposed a critical gap in standard business interruption coverage
4. How underinsurance happens — and why outdated revenue figures leave businesses exposed
5. Four specialty coverages most business owners don't know exist: contingent BI, civil authority, service interruption, and cyber-related BI
6. What a proper business interruption review should actually look like
7. Why the businesses that recover fastest are always the ones who planned ahead
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