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Has anyone made a claim on their insuance for COVID-19?

 
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Old March 22nd, 2020 Mar 22, 2020 9:18:40 AM -   #1 (permalink)
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Default Has anyone made a claim on their insuance for COVID-19?

I am calling my insurance in the morning to see if this falls under business interruption. I started the SBA disaster relief process as well. That is one long application.
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Old March 22nd, 2020 Mar 22, 2020 9:38:33 AM -   #2 (permalink)
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Default Re: Has anyone made a claim on their insuance for COVID-19?

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Originally Posted by binki
I am calling my insurance in the morning to see if this falls under business interruption.
I bet your policy will have an exclusion for pandemics. SBA disaster relief will be the only option for most businesses.
 
Old March 22nd, 2020 Mar 22, 2020 9:41:06 AM -   #3 (permalink)
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Default Re: Has anyone made a claim on their insuance for COVID-19?

When British Petroleum duped a million barrels of oil onto the Florida Gulf Coast beaches, EVERYBODY filed a claim and was paid by BP.

Since China has not been identified as the defendant, citizens filing a claim must circumvent the profit strategy of insurance companies....deny, Deny and DENY.

I imagine the insurance companies will hit pause until the end game of state and fed compensation is understood.
 
 
Old March 22nd, 2020 Mar 22, 2020 9:13:49 PM -   #4 (permalink)
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Default Re: Has anyone made a claim on their insuance for COVID-19?

Business interruption insurance follows coverage under your policy for physical damage to building &/or contents. If your property is damaged and your income is impacted, business interruption kicks in. Without physical damage, there is no coverage for business interruption.
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Old March 22nd, 2020 Mar 22, 2020 11:32:44 PM -   #5 (permalink)
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Default Re: Has anyone made a claim on their insuance for COVID-19?

Quote:
Originally Posted by splathead
Business interruption insurance follows coverage under your policy for physical damage to building &/or contents. If your property is damaged and your income is impacted, business interruption kicks in. Without physical damage, there is no coverage for business interruption.
There are variations, and some policies will cover interruptions without physical damage, BUT pandemics are usually excluded.
 
Old March 23rd, 2020 Mar 23, 2020 10:41:48 AM -   #6 (permalink)
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Default Re: Has anyone made a claim on their insuance for COVID-19?

I filed a claim today. The SBA also asks for BI insurance and the policy info.
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Old March 27th, 2020 Mar 27, 2020 12:13:36 PM -   #7 (permalink)
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Default Re: Has anyone made a claim on their insuance for COVID-19?

Insurance would cover if there was physical damage so no luck on that one. We reached out to our bank and they may have something shortly. Working on an SBA loan.
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