Investor · Springfield, MA · Member since 2010 · 277 posts · 84 votes
Received this from my insurance agent:
"To anyone experiencing a business income loss with an insurance policy in effect, due to the "Pandemic"
I suggest that it would be prudent to report a "Loss of Business Income" claim for each of your policies to your agent and state the loss is a result of the "Pandemic". Although this term is not excluded in the policy, there are many more hurdles to overcome within your specific policy language.
This is obviously going to be litigated over the next few years and who knows what that will bring, but if you do not report it in a timely manner to your agent or your insurance company, your outcome is certain - no coverage. "
Curious if anyone else is working on a claim? Just submitted mine.
Insurance Agent · Nationwide · Member since 2014 · 2k+ posts · 1k+ votes
6y
@Matthew T. our agency has advised to do the same and no harm in doing so. If you are only claiming loss of income due to Covid19, your claim will be denied.
The only place we have seen coverage come into play is on some of our larger manufacturing clients. Some of those Property policies have some broader language depending on the industry they are in.