If you own a business and had to close your doors by government order due to COVID-19, you’re probably out a lot of revenue.
With a business owner’s insurance policy, you may be eligible to make a business-interruption claim. But right now, insurance companies are turning down these claims in droves.
They’re doing this because many policies require direct physical loss or damage to your property.
So here’s the question that insurers DON’T want you to ask: did the coronavirus physically damage your property via people walking in to your business and leaving it on the walls, floors, and other surfaces?
And, if it did, does this constitute direct physical loss or damage to your property?
A lawyer can research insurance-coverage law in your jurisdiction and, if it looks encouraging, file what’s called a declaratory-judgment action. That’s a lawsuit where you ask the judge to rule that your insurance policy provides coverage for COVID-19.
So when it comes to filing a business-interruption claim due to COVID-19, you DON’T have to take “no” for an answer.
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