The coronavirus pandemic has not only taken the lives of thousands, but also caused several non-essential businesses to permanently close due to loss of sales and abrupt revenue declines. The question here is whether your small business can be protected by business interruption and “physical damages” coverage. Physical damage coverage simply means that your business may be protected if there was any physical damage to your insured property by an insured risk. Several insurers may argue that the coronavirus does not account for a covered risk that generated physical damage to or loss of the insured property therefore will not be covered due to policy exclusions. However, a few industries have special policies that convey financial losses that could be caused by a virus outbreak. “For example, such clauses as “loss of attraction,” “communicable diseases,” and certain others may offer protections. Typically, this coverage may only apply to the unforeseen expenses associated with disinfection and evacuation after the building was closed due to the virus outbreak. Thus, this coverage typically does not extend to your loss of revenue.” Depending on your businesses circumstances, you may be eligible for coverage during the coronavirus pandemic under certain clauses. For example, the “Civili or Military Authority” clause may be fitting when there is a charge by a governmental authority that affects access to your insured property. To find out whether your business is covered by insurance during the coronavirus pandemic, speak to a Barakat Litigation Lawyer to investigate the possibilities.
The attorneys at Fair Claims Law aggressively represents its clients in pursuing their insurance claims with the goal of recovering the benefits owed to them under their property insurance policy. Fair Claims Law’s attorneys have handled nearly every kind of loss ranging from windstorm, water losses, fires, and many others. The lawyers at Fair Claims Law strive to provide excellent customer service and take pride in achieving their goals.
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To learn more about how we can help you, contact FAIR CLAIMS LAW today.