Insurance tip- business owners (1 Viewer)

efil4stnias

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guys and gals....if you own your own business and do NOT have business interruption, contact your rep to see if you can add/endorse policy. As of now, there is no moratorium ( that i know of ) on adding this and if your local leaders enact a lockdown, that will be the trigger for coverage.

But that may change in an hour as this issue is changing by the hour.

If you do have, review with your representative to understand how and when it will kick in, pay for etc etc.
 
Thank you for this message. Based on your recommendation in the other thread, I have reached out to my broker for details.

Any personal insurance tips we should be considering?
 
Thank you for this message. Based on your recommendation in the other thread, I have reached out to my broker for details.

Any personal insurance tips we should be considering?

you are welcome. it could possibly be one of the better 10 min conversations you have had with your broker if indeed you have.


im not really well versed on the personal lines side of insurance. It has been a hot minute since i have sold a home/auto insurance.
 
Well i finally received clarification on BI from our largest trade group in Louisiana.

its in their estimation that BI will not be covered, even by civil action. But may be on a case-by-case basis ( each carrier differs a bit )

So it doesnt look like it will be covered.

Surely to be tested by the courts at some point.
 
just bringing this back up here- but after a long webinar this am, please check with your respective reps/insurers to determine if coverage may be afforded.

And dont let that dissuade you from filing a claim ...let the carrier formally decline with reasoning for doing so.

All the best.
 

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