What Does Insurance Cover During CO VID-19 Lockdown?

The economic uncertainty of today’s global markets is leading many businesses to consider all of their options, including insurance. Is a quick breakdown of your business finances worth spending on insurance? If your business consists of vehicles, equipment, or supplies that are used daily or have a high value then it is a good idea to consider all of your options before you run the risk of losing your business. Insurance can help you keep your business running smoothly during any period of financial doubt. If you do not have the best policy available today you should look into the following options for finding an adequate policy:

 

All risks

Does your current policy include coverage for all types of accidents, thefts, or disasters? It is very important to have a policy that includes these types of risks. A business interruption policy can help provide your business with the protection it needs to keep your business running smoothly during a period of Lockdown.

 

Contact the company

Is your company’s insurer already providing you with a product? Many businesses choose to purchase their life, health, and travel insurance policies through their company. If you have a business interruption policy, you must contact the company to see if they offer this type of protection. If so, you should talk about what your company would need to be adequately covered during a period of lockdown.

 

Contact an agent

Are you aware that many brokers and insurance companies provide complimentary phone consultations? These professionals can be of great benefit if you are unsure which policy will be the most appropriate for your situation. The agents can also assist you with completing the application process. It is important to note that if your particular policy does not meet your requirements you should still fill out the application in full to get the policy.

 

Go online

A smart idea is to go online to find out more information about your particular company’s policy. You can get all of the answers you need quickly and easily through the convenience of a web page. It is important to note that some companies may have specific answers on their FAQs and other website sections. In most cases, however, you can rest assured that your policy is very likely to be available, but you may need to call for specific details. Once again, you will want to ensure that you keep the contact details current.

 

Take advantage of “time out”

Each business has the right to take a time out during a Lockdown Period. This is typically a half-day or one-day period that allows you to take a few days off without facing the consequences of being terminated. Be sure to give yourself this time before your contract comes up for renewal. You can use this time to make necessary changes to your business plan, your working environment, and any other aspects of your operation that need to be reviewed. Time out will help you avoid the headaches of CO VID-19 Lockdown, keeping your money in your pocket.

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