Business Insurance Claims for Restaurant Owners During the Pandemic

​Restaurants have a significant role in society -- it is where people commune, celebrate, network, and commiserate. The industry's disruption will undoubtedly continue even after reopening due to particular limitations. Below are common claims and questions restaurant owners often face.

How Can Business Owners Prepare Strong Claims for Loss Coverage?
The first step is always for the owner to understand, check, and review the particular policy language, along with its exclusions and inclusions. Some policies have a narrow scope with specific wording, while others broadly describe coverage terms with a broader range and more open interpretations. 

Do Policies Exclude Particular Viruses, Along With a Language With Regards to a Pandemic?
Unfortunately, there is no general answer to what the insurance covers since policy language can differ in several ways. The wording can be dense, but the brokers selling the policies may also not be the recommended choice for consultation. Owners need to assume that insurers will not offer coverage for claims without setting a front.

Will Insurance Cover Restaurants Operating in Reduced Ways, Such as Take Outs?
Contingent business interruption coverage, including unmet obligations and losses from vendor partnership, may be included in business interruption coverage. Force majeure clauses - a clause on an "act of God" which modifies or frees a party's obligations - may also be under supplier contracts. 

For example, owners who cannot provide the needed materials for to-go items or who cannot maintain agreements with certain suppliers due to pricing changes may consult their supplier agreements and insurance policies to resolve them.

Who Can Help Me File a Denied Appeal or Claim?
Plenty of business owners also ask for advice from their insurance brokers for better claims navigation. Although they are accommodating when buying a policy, they may not be the recommended counsel when it comes to compelling an insurer to do their obligations when they deny a claim. Legal counsel helps best when handling exclusions.

There might still be several questions in your mind, not answered. If so, do not hesitate to seek knowledgeable counsel. Competent thoughts are the key to securing the promised coverage mentioned in the policy and overcoming specific denials.

At Cornerstone Insurance Agency, we put our clients first by offering them policies that they can afford. Having insurance is a necessity nowadays and we're here to help you out. Learn more about our products and services by calling our agency at (888) 661-8831. You can also request a free quote by CLICKING HERE.