Why coronavirus could spell BIG trouble for your business
Business people across the country breathed a sigh of relief when the government said it would declare Coronavirus “as a notifiable disease”. That’s because that particular classification is a requirement to be able to claim under the terms of many business insurance policies.
But unfortunately, that reclassification may not be enough to help your business avoid losses. The Association of British Insurers say most policies are still ‘unlikely’ to pay out for losses incurred as a result of the virus.
This is because many policies would require the virus to be physically identified on the business’ premises in order for them to pay out.
And the bad news doesn’t stop there for small business owners: they may also have to cough up for an extended period of statutory sick pay of £94.25 from day one, rather than day four.
Remember to check with your insurance provider to confirm whether or not you are protected against Coronavirus related losses.
And if you’re looking to make some of that money back, there’s no better way than by saving big on your insurance. Head to A Spokesman Said to search for the best deals for you.
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But these battles cost us money. You could help us fund these fights by using our price comparison site, A Spokesman Said for your energy, car insurance and household bills.
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