Most standard business insurance policies exclude coverage for communicable diseases, such as COVID-19. Small business owners are often curious if the following policies provide any coverage for the coronavirus.
Business interruption insurance is an endorsement to commercial property insurance. It typically covers losses related to property damage only, such as a fire or burst pipe.
Special event insurance provides short-term coverage for a business event. It usually excludes communicable disease coverage. However, some policies might cover lost deposits or event postponement regardless of the reason behind it.
Workers' compensation insurance covers on-the-job injuries and occupational illnesses. Because each state sets its own laws for workers' comp, you may be able to recoup losses if your employees are unable to work due to the coronavirus.
Always check with your insurance provider if you think you might be eligible for a claim. And feel free to contact an Insureon agent if you have any questions.
