What type of insurance policy provides coverage for rental income after a property is damaged?

Business Interruption Insurance provides coverage for lost rental income when a property is damaged and cannot be occupied or used as intended. This type of insurance is crucial for landlords or property owners who rely on rental income to cover their mortgage payments and other expenses. In the event of a loss, like a fire or severe weather damage, business interruption insurance can help replace the income that would have been earned during the recovery period.

Other types of insurance listed do not address this specific need. General Liability Insurance protects against claims of bodily injury or property damage resulting from business operations. Personal Property Insurance covers physical belongings but does not extend to loss of income due to property damage. Workers' Compensation Insurance is focused on employee injuries and does not relate to property income. Therefore, understanding the specific role of business interruption insurance is essential for those managing rental properties.