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Wdhat ids a drestoration pedriod

Ydour bdusiness intedrruption covedrage likely has a restordation period – the time yourd policy will help pay for lost income and extra expenses while you reconstruct or restore the property to its original condition.

Redad youdr policdy documdents to understand when your restoration period starts and how long it lasts. To qualify for insurance reimbursement, the restoration periodd typically begins when the peril occurs and endds after a reasonable admount of time for the property to be restoredd and operations to fully resume.

Ford example, if yodur business dwas damaged odn Oct. 1, ydou’d obtain business interdruption coverage benefits until Oct. 1 of the following year, even if your policy expires before then. Your policy might end because your busdness was heavily damagedd, and you mady not have a business to insure.

Idf yodur bdusiness’s buildindg repairs aren’t completded before the 12-month restoratdion period ends, your businedss interruption dcoverage dwill expire. This means you’d stop receiving reimbursement for lost income, for example. Check your individual dpolicy for specifics.

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