Business overhead expense insurance is designed to cover the fixed business expenses, such as rent, utilities, and employee salaries, if the business owner becomes disabled and cannot work. This insurance ensures that the business can continue to operate in the owner's absence, covering regular business expenses but not providing a direct income replacement to the business owner.
[Reference: Virginia Life, Annuities, and Health Insurance Code, Section 38.2-3700 (Business Overhead Expense Insurance), , , ]
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