Business Interruption Policy Feature Checklist
What to confirm in a business interruption policy — what's standard, what's often limited, and what to add if needed — plus the gap most often missed.
Pull out your current property or business owner policy and check the box next to each feature you can confirm it includes — anything unchecked is worth a quick conversation with your advisor.
Tick each feature you can confirm your policy includes — anything left unticked is a good question for your next policy review.
| Confirm? | Policy feature | What to confirm | Priority |
|---|---|---|---|
| Business Income | Replaces lost net income and pays continuing expenses while you are closed after covered damage. | Standard | |
| Extra Expense | Pays extra costs to keep operating — temporary space, rentals, rush shipping. | Standard | |
| Limit Sized to Full Recovery Time | Confirm the limit covers the whole rebuild, not a few months. | Standard | |
| Ordinary Payroll | Some policies limit how long payroll is paid — confirm all key staff are covered. | Often limited | |
| Waiting Period | Coverage often starts 72 hours after the loss — confirm the hours. | Often limited | |
| Coinsurance | An underreported limit can reduce every claim — consider agreed value or a monthly limit. | Often limited | |
| Extended Period of Indemnity | Pays while revenue rebuilds after reopening — often only 60 days unless extended. | Often limited | |
| Dependent Property (Suppliers & Customers) | Covers losses when a key supplier or customer is damaged — usually a small sublimit. | If needed | |
| Civil Authority & Ingress / Egress | Covers closures ordered by authorities or blocked access — usually limited to weeks. | If needed | |
| Utility Service Interruption | Covers losses when off-site power, water, or internet fails. | If needed | |
| Flood & Earthquake Business Income | Usually excluded unless added — flood BI needs a separate policy. | If needed |
The gap most often missed in this coverage
The gap most often missed in business interruption coverage is a limit that runs out before the business recovers. Rebuilding often takes longer than owners expect once permits, code upgrades, and equipment lead times are counted, and the median small business holds only about 27 days of cash. Coinsurance can also cut a claim if the limit was set too low. Size the limit to the full rebuild, add an extended period of indemnity, and review the figures every year.
Send us the checklist and we'll review your business interruption coverage line by line, then market it across multiple carriers that compete for your account.
Related: Business Interruption Insurance · Business Interruption Supplemental (apply) · All coverage checklists
Frequently asked questions
What should a business interruption policy include?
Standard features to confirm in a business interruption policy include Business Income, Extra Expense, Limit Sized to Full Recovery Time. This checklist also flags the features that are often limited or sublimited and the ones to add if needed, with a plain-English note on each.
Is this checklist insurance advice?
No. It is a free educational tool to help you have a more informed conversation with a licensed professional. It affords no coverage and is not insurance, legal, or financial advice — only your actual policy language governs what is and isn't covered.
Can Cory Washington & Co. review my business interruption coverage?
Yes. Share your checklist and we'll review your program line by line, market your account across multiple carriers, and explain the trade-offs in plain English. Cory Washington & Co. LLC is licensed in all 50 states.
This checklist is a free educational tool from Cory Washington & Co. to help you review your own coverage and have a more informed conversation with a licensed insurance professional. It is general information only — not insurance, legal, or financial advice, and not a recommendation to buy, change, or cancel any policy. Coverage terms, availability, limits, and requirements vary by policy, carrier, and state, and only the language in your actual policy governs what is and isn’t covered. Checking or leaving blank any item above does not indicate that you are adequately insured or under-insured. Using this checklist does not create a client, agency, or fiduciary relationship. Always consult a licensed professional about your specific situation.