Do Insurance Companies Cover Riots And Looting
This is the insurance bill for damage and looting during protests over george floyd s death and that s just in minnesota published.
Do insurance companies cover riots and looting. Even if a business is insured higher rates are nearly certain which will result in higher prices for customers. Small business insurance policies generally cover damage to windows doors light fixtures and contents including furniture office supplies machinery and computers plus the cost of boarding up. Insurance will cover losses from riots vandalism looting or civil commotion even if a business owner does not use force to physically defend their property. Insurance might cover looting but consumers.
So many people are asking does insurance cover riots and looting. But it may be up to the individual business owners to decide how much insurance they want to buy to cover their inventory and equipment in case of theft fire. The most common types of insurance policies that small businesses owners tend to have is general liability property insurance and workers compensation insurance if the business has employees. This would include damage caused by rioters as well as damage caused by the reactions of police and civil authorities during a riot.
June 9 2020 at 9 19 a m. Looting isn t a victimless crime. The damages from rioting are likely to be covered by most property insurance policies as riots are part of the named perils in many policies. After days of riots and looting many businesses are looking to get back on their feet starting with filing insurance claims for the damage suffered.
Commercial property insurance policies do not require business owners to use force to defend or protect their business property. Yes standard insurance policies usually cover damage that results from rioting looting vandalism and or civil commotion. Among the first businesses to be burglarized was a minneapolis target near the police precinct of officer derek chauvin who has been charged with.
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