Big I Insights

Property Damage – Is It Because the Government Says It Is?

By | May 27, 2020

  • May 27, 2020 at 1:39 pm
    Oh Goody says:
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    None of my insureds called wanting to file a claim for damage to property and the resulting interruption of business until the property was repaired or replaced. They all wanted to file claims for loss of market due to government imposed shut downs. You can’t have a business interruption loss unless there is a physical loss to covered property. As far as I am aware, you can’t purchase business interruption without property coverage because the two are tied together.

    • May 27, 2020 at 4:27 pm
      Bill says:
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      Depending on underwriter discretion, you can buy business income coverage without buying direct property damage coverage. I knew a local BBQ joint that did that. And you can buy business income for vehicles.

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