You often hear these in the news: protests break out in key cities in the U.S. From marking protesters, looting, and vandalism, how do you protect your business when these happen? Is your business insurance enough to cover these? If not, who will pay for the damages?
What Standard Business Insurance Can Cover
Riots are dangerous and unpredictable. When these happen, business owners are anxious about what will happen to their business, shops, or offices. When riots go out of hand, violence, vandalism, and looting may happen.
Any damage on the outer part of your business and your shop's contents due to civil commotion, fire, riots, and vandals are covered by standard Business Owners insurance or Business Owners Policy. But not all may be covered by this policy. Some plans may not include damage to glass windows; therefore, this should be purchased separately.
Loss of Income Coverage
If you cannot open for business because of damage to your shop or you're still afraid of any dangers, you can file for loss of income covered by your business income insurance policy. Another term for this is business interruption insurance. You can file a claim if your business has been directly damaged because of these problematic events.
About Civil Authority Provisions
The civil authority provision in your business policy is coverage for your loss of income and other expenses if the police or fire department prevents access to your shop or an area in your shop because of physical damage. This is when there's a riot or a civil commotion to a nearby shop or business.
Might Be a Good Time to Update Your Policy
If you have existing business owners' insurance, this may be an excellent time to review your coverage. Times are tough, and being prepared for riots, vandalism, and theft will protect your business in the long run. Review your policy and make changes as soon as you can. Contact your agent to help get a professional opinion.
Conclusion
Your business should be prepared for anything, including loss of income and business interruption due to unforeseen circumstances. Talk to your business insurance agent to get the best coverage for your needs.
At Meyerson-Roth Co Inc., we do our best to ensure that our clients are well-protected with affordable and comprehensive policies. We make sure to go the extra mile to help you with your needs. To learn more about how we can help you, please contact our agency at (516) 432-5800 or Click Here to request a free quote.
Riots are dangerous and unpredictable. When these happen, business owners are anxious about what will happen to their business, shops, or offices. When riots go out of hand, violence, vandalism, and looting may happen.
Any damage on the outer part of your business and your shop's contents due to civil commotion, fire, riots, and vandals are covered by standard Business Owners insurance or Business Owners Policy. But not all may be covered by this policy. Some plans may not include damage to glass windows; therefore, this should be purchased separately.
Loss of Income Coverage
If you cannot open for business because of damage to your shop or you're still afraid of any dangers, you can file for loss of income covered by your business income insurance policy. Another term for this is business interruption insurance. You can file a claim if your business has been directly damaged because of these problematic events.
About Civil Authority Provisions
The civil authority provision in your business policy is coverage for your loss of income and other expenses if the police or fire department prevents access to your shop or an area in your shop because of physical damage. This is when there's a riot or a civil commotion to a nearby shop or business.
Might Be a Good Time to Update Your Policy
If you have existing business owners' insurance, this may be an excellent time to review your coverage. Times are tough, and being prepared for riots, vandalism, and theft will protect your business in the long run. Review your policy and make changes as soon as you can. Contact your agent to help get a professional opinion.
Conclusion
Your business should be prepared for anything, including loss of income and business interruption due to unforeseen circumstances. Talk to your business insurance agent to get the best coverage for your needs.
At Meyerson-Roth Co Inc., we do our best to ensure that our clients are well-protected with affordable and comprehensive policies. We make sure to go the extra mile to help you with your needs. To learn more about how we can help you, please contact our agency at (516) 432-5800 or Click Here to request a free quote.
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