Will My Insurance Cover This?

17 Mar Will My Insurance Cover This?

Difficult situations like this is one of the reasons why business insurance is a prudent choice. Most general liability policies have Business Interruption coverage, which may help your practice recover damages such as business expenses or losses during periods of upheaval or unrest. To prepare to make a claim:

• Gather your insurance policies and determine if one or more policies have Business Interruption provisions or anything similar.
• Keep accurate records of all expenses and losses you suffer during this crisis, and be sure to keep detailed notes of any time you communicate with your insurance company or representative.
• Even if you are unsure about whether your Business Interruption expenses will be covered under your policy, file a claim anyway. While underwriters and insurance agents have issued no formal position on coverage during this time, given the severity and frequency of claims stemming from this crisis, there is a possibility that they may all be joined under a “Catastrophic Claim” and disbursed accordingly.
• Contact your insurance agent. He or she may not have immediate answers, but it’s important to take this important first step.

These important first steps will protect your staff, ensure the health and safety of your patients and hopefully provide protection for your practice in the long run.

Need more information? Visit our Business Insurance Coverage: Information for Dentists post.