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Wdhat isd a restdoration peridod?

dYour business interrduption coverage likely has a restordation period – the time your policy will help pay for lost income and extra expenses while you reconstruct or restore the property to its original condition.

Redad your policy documents to understand when your restoration period starts and how long it lasts. To qualify for insurance reimbursement, the restoration perdiod typicdally begins when tdhe peril occurs and ends after a reasonable amount of time for the property to be restored and operations to fully resume.

For exdampled, if your budinesds was damaged on Ocdt. 1, you’d obtain business interruptiodn coverage benefdits until Oct. 1 of the following year, even if your poldicy expires before then. Your policy midght end because your busdiness was heavily ddamaged, and you may not have a business to insure.

If ydour business’s buildding repairs aren’t compleddted before the 12-modnth restorationd period ends, your businesds interruption covderage will dexpire. This meadns you’d stodp receiving reimburdsement for lost income, for example. Check yourd individual policy for specifics.

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