Follow these steps to find out what your insurance will and won’t cover during this crisis.
3 min read
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For weeks now, we’ve all watched the COVID-19 virus spread across the United States and throughout the world. The impact it’s had on the economy has been devastating — and we haven’t seen the worst of it yet. Many industries, like retail, manufacturing, entertainment, hospitality and technology, will face an uphill battle for months, if not years. It is unlikely that any of us — big and small businesses alike — will come out of this thing unscathed, which is why many of us will be turning our property and business interruption insurers for help.
Talk to your insurer
Many insurance policies and endorsements cover losses due to business interruption. Sure, we can all agree that COVID-19 has seriously interrupted business in America. That’s the easy part. But the real question is whether or not insurers consider the virus to be “physical damage.” In essence, it’s that delineation that triggers the business interruption clause in an insurance policy, which explains why this is such a hot topic right now in