I stole the title from Rosalie L Donlon from her Sep 23, 2016 article on PropertyCasualty360.com, and I plan on stealing most of the material from her article for this blog. It is a fantastic article and unfortunately a subject we are having to discuss more and more.
First of all visit Property Casualty 360 for a host of great articles regarding business insurance and you can follow Rosalie L Donlon on Twitter: @RosalieDonlon. The article that I am leaning on heavily for today’s blog can be read at “5 kinds of insurance you’ll be grateful you bought after a riot”. Please read the full article – you’ll be glad you did.
Here is the bottom line for any business owner. Sit down with your agent and discuss your business coverage. If you are an Indiana based business, I’d love to have that conversation with you. After a claim it is too late to find out if your business will be able to recover or not.
According to Rosalie L Donlon the five coverage options you want to make sure you have a firm understanding of for your business before a riot are as follows (not in order of priority).
- Property Damage
- Business interruption
- Civil authority
- Extra expense insurance
- Other coverages
You may be shocked to find that your policy has some of these options excluded and you will not be covered.
Another great resource to educate yourself on your insurance policy is the Insurance Information Institute which can be found on line at: Insurance Information Institute. Don’t just rely on your agent, there may be facts about your business that he or she did not know to ask and you did not know to share. This third party resource may save your business.
You are welcome to visit my site Scott Lynch Agency for more helpful information on our broad line of insurance products.