Utility Interruption Coverage

Many businesses can survive being without power for a few hours or even a day, but extended power outages and utility shutdowns can cause devastating damages and loss of profits. Many commercial property policies exclude utility interruptions, so business owners may have a hard time recovering compensation unless they have insurance coverage for power outage losses in New York.

What Is Utility Service Interruption Coverage in New York?

This type of insurance protects your business in case utilities such as water, telephone, email, power and other services are down due to city work, storms, nearby fires and other covered events. Utility interruption coverage in New York may cover property damage caused by utility outages. If the power goes out for an extended period at a restaurant, food may spoil. This type of coverage pays for the replacement of the food products and any property damaged by utility interruptions.

Utility interruption insurance coverage can also cover you for loss of income and continuing expenses, up to a specific limit. This way, if your business is without power or utilities for days or longer, you will not have to the absorb the loss in income and revenue by yourself.

When looking at business interruption insurance for a power outage in New York, ensure you are covered for off-premises utility interruption. Many standard business property insurance policies specifically exclude this coverage, which protects you if the utility interruption occurs outside your property. With off-premises utility interruption, you are covered if a lightning strike or fire damages a transformer miles away. Without this coverage, you are only insured if damage to your property or an event on your property causes the utility interruption.

Do I Need Utility Service Interruption Insurance in New York?

Consider how easy it would be to keep your business running if you went a few days or weeks without power. Some businesses are almost entirely online and could simply relocate somewhere without power, but most are not so fortunate. If you would be forced to absorb a cost you cannot afford, utility service interruption coverage is a smart safeguard to have.

Costs for this insurance will depend on your business, your risk, the type of utility to be covered, your business property and other factors.

Are You Looking for Utility Service Interruption Insurance in New York?

Contact Kokkoris Insurance Services today for a free quote and consultation. Kokkoris Insurance Services has been helping hospitality companies, contractors, restaurants, hotels and other companies in New York find smart insurance solutions for more than 25 years. Our professional team treats every client with care, and we always get to know your business needs and goals so we can make suitable insurance suggestions.

The professionals at Kokkoris Insurance Services are ready to answer your questions. Our goal is to help you find the insurance you need at a competitive price. Contact us today for a free quote and consultation to find out what a difference the right insurance solution can make for your company.


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