When disaster strikes – Insurance can help cover business interruption losses

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Abstract: Property insurance typically doesn’t cover a wide range of business losses and expenses, including lost sales and employee salaries, loan payments and rent that must be paid during an extended business closure. Fortunately, a dealership can purchase business interruption insurance to cover these kinds of losses. This article explains what this insurance type generally covers — and doesn’t cover — and how to determine a dealership’s coverage amount. A sidebar reports that most COVID-19-related lawsuits filed by businesses against insurance companies so far have been dismissed.