Business Income & Loss of Rents
Business income (loss of rents) coverage replaces the rental revenue you lose when a covered property loss — fire, storm, or other peril — makes units unrentable while you rebuild. It also pays the extra expenses of getting back to operation.
Business Income & Loss of Rents for Self-Storage
When a fire or windstorm damages a building, the repair bill is only half the loss. The other half is the rental income you can't collect while those units sit empty and under construction — income that still has to cover your mortgage, taxes, payroll, and operating costs. Business income (loss of rents) coverage replaces that lost revenue during the restoration period.
For a self-storage operator, this coverage is the difference between weathering a major loss and defaulting on the facility. It pays based on the rents you would have earned, typically for the time it reasonably takes to repair and re-rent the affected units, subject to your policy's restoration period and any waiting period.
Extra Expense — Getting Back Online Faster
Paired with business income, extra expense coverage pays the added costs of minimizing downtime — temporary fencing and security, expedited repairs, a temporary office, or relocating tenants within the facility. Together they keep a covered property loss from snowballing into a cash-flow crisis. We size the limit to your monthly rent roll and realistic rebuild timelines.
What's Covered
Frequently Asked Questions
Enough to replace your gross rental income for the full time it would take to rebuild and re-rent after a major loss — often 12 months or more for a large facility. We base the limit on your actual rent roll and a realistic restoration timeline.
No. Business income responds only to income lost because of a covered physical loss (like a fire or storm) that makes units unusable. It does not cover ordinary vacancy, market downturns, or simply renting at a slower pace.