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PSA for small businessowners
Posted on 3/16/20 at 2:51 pm
Posted on 3/16/20 at 2:51 pm
Check your insurance policies or call your servicing agents and make sure loss of wages or interruption is covered in the event of a virus or pandemic. Most policies only cover named perils such as wind, theft, fire, etc. Don't send your employees home with the promise of pay before you check if its covered. You could end up with much lighter pockets. I understand you want to make sure your employees are okay but if you go bankrupt trying to make that happen they wont even have a job on the other side of this.
Eta: looks like we have a lot of disgruntled employees wanting to be at home with pay. Sorry fricks, your boss has a lot more shite to worry about like making sure you even have a job.
Eta: looks like we have a lot of disgruntled employees wanting to be at home with pay. Sorry fricks, your boss has a lot more shite to worry about like making sure you even have a job.
This post was edited on 3/16/20 at 3:04 pm
Posted on 3/16/20 at 2:52 pm to TigerChief10
most loss of income insurance doesnt cover civic shutdown
Posted on 3/16/20 at 2:55 pm to gsvar2004
There will be more bankruptcies than at any year in the history of this country.....by far
Posted on 3/16/20 at 2:58 pm to TigerChief10
Long long shot here for anyone to have coverage. For business income to kick in, you have to have a direct loss to said property. Communicable disease is not a direct loss, and most policies exclude communicable disease.
Posted on 3/16/20 at 3:01 pm to gsvar2004
No doubt most will not be covered. Just didnt want anyone to send them home thinking it would be.
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