Coronavirus Disrupts Personal, Business Lives - Keating Agency Insurance
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coronavirusCoronavirus has been all over the news lately.  As it spreads across the globe, stories about the virus, it’s spread, and impacts bombard us daily.

Certainly, concern about staying healthy remains doctors’ and governments’ focus.  However, the disease is affecting the world in other ways.

Even if you never get infected with this virus or another one, it can still impact your personal or business life.

Coronavirus May Require a Change in Plans

Do have a trip planned in the near future?  Is it anywhere in the far East?  Is it for business or pleasure?

The Coronavirus may have you rethinking those plans.  In fact, you may be cancelling your trip.  Did you have trip insurance?

The Los Angeles Times reports that travel insurance covers problems that happen when on your trip.  Unfortunately, virus cancellations aren’t normally covered.  However, if the airline cancelled your flight, you might get reimbursed for the tickets.

You might still be able to take your trip without losing as much money if you can move your reservations several months from now.

When it comes to business, many global firms are already feeling the virus’ impact.  CNBC reports that five million businesses may be affected by the virus.

coronavirusThe Insurance Information Institute (III) says that Commercial Insurance generally includes business interruption coverage.  However, this only comes into play when the interruption is due to property damage.  Virus outbreaks, even if they occur in a place of business, don’t qualify.

China is a major supplier to a number of the world’s businesses.  Some of these are in Connecticut.  If your business depends on a steady stream of supplies to keep running, you may have coverage that will pay.  Supply chain coverage may reimburse your business for lost income.

Depending on the nature of your business and coverage, commercial liability may protect you if people become infected on your property.  Of course, the likelihood that your employees or patrons will contract the Coronavirus at your establishment, right now, are fairly low.

The Keating Agency hopes you, your family, and business do not fall victim to this latest virus outbreak.  If you have any questions about any of your insurance policies and what they cover, please contact us.  We are happy to help you protect all that is important to you.

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