CoVid-19 Resources for Business Owners

Will Your Insurance React to the impact of the CoVid-19 Virus?

Richards Insurance is dedicated to providing you with the most accurate and updated information when it comes to your business and the Coronavirus Pandemic. We’ve compiled what we believe to be the most beneficial resources to answer questions related to CoVid-19. If you have any further questions, please contact your Agent

Any and all claims are dependent on coverage and the company you are with.  All claims must be investigated to determine coverage will or will not react. 

Things in consideration for potential claims:

  • Business Interruption because of Government shut down or confirmed case of CoVid-19
  • Restrictions, including travel, gatherings, and curfews
  • Interruption of product/services or inability to comply with terms of a contract

These are to name a few potential property losses.  Unfortunately, there is little coverage that would trigger coverage within many policies.  However, each company will have to determine the extent of coverage and accept or deny coverage per their terms, conditions and exclusions of the policy. 

What should you do?

There is not a blanket statement that can cover each company’s stance when it comes to claims. Each policy will have to be fully examined and evaluated against the facts of the loss and the damages incurred. It is imperative that all companies that suffer any type of loss related to CoVid-19, keep accurate records during this time. If there are insurance policy recoveries to be claimed and/or government programs to access for assistance, documentation of economic losses and expenses will be required.   If you do want to submit a claim for damages, your insurance Carrier website will include details on the most efficient way to report the claim.