Business interruption insurance is a type of coverage that can be added on to the standard policy business owners purchase to protect their businesses. This type of coverage, when purchased, is expected to protect a business from lost revenue in the event of an emergency or disaster. While the Missouri Department of Insurance says that business interruption insurance typically kicks in when your insured property suffers a “direct physical loss,” which usually happens when a disaster such as a tornado strikes, that’s not to imply that coverage is only available if your property suffers physical damage.
Each business insurance policy differs from the next which means that while someone else’s policy might specifically exclude pandemics, such as the COVID-19 pandemic, that doesn’t necessarily mean yours does too. However, the Missouri Department of Insurance does say that “the industry trend has been to exclude business interruption coverage for viruses, bacteria, pandemic, communicable diseases, etc.” The Missouri Department of Insurance also says that “this may not be universal.”
So, who do I know if my business interruption insurance should cover losses associated with COVID-19?
There are three things you can do to determine if you have coverage.
- The first is to review your policy carefully. Your policy should outline the types of events it will cover and those that it will not. The Missouri Department of Insurance states that “if a type of event is not listed in your policy, then it is probably not covered.” But one shouldn’t assume that just because pandemics are not listed is their policy that this type of event is not covered by their business interruption insurance.
- You can contact your insurance agent who can clarify what your policy covers and what it excludes.
- You can contact a Missouri insurance claims attorney who can clarify the wording in your policy. Insurance policies are often lengthy documents that are often difficult to understand. If you aren’t sure what your business interruption insurance covers and what it excludes, USAttorneys.com is here to help you locate an insurance lawyer in your city who would be happy to review your policy with you.
What if my business interruption insurance doesn’t exclude pandemics but my insurer denied my claim?
While there is a complaint process you can go through if you suspect that your insurer wrongfully denied your business interruption claim, it likely won’t be as effective as it would be to hire a Missouri insurance claim denial lawyer to help you address the issue. So, if you would like to speak with an insurance claims denial lawyer in Missouri who can explain your rights as a policyholder and how you can exercise them, USAttorneys.com is here to connect you with a legal expert now.