No matter how you personally feel about the protests and riots happening across the world right now, insurance adjusters need to be prepared for the claims they’re going to see as a result of this civil unrest. Here are a few of the new claims you’ll encounter during this wave of protests and riots. Most of these claims are for business insurance, and the goal is to cover damage done to insured business property. Some items might not be covered in your policy, so always check the fine print.
Riot and Civil Commotion
Riots and civil commotion are usually listed together on policies, since it can be hard to tell the difference between them. A riot is a violent, destructive disturbance while civil commotion typically describes a peaceful protest.
Vandalism and Malicious Mischief
Vandalism means any willful, malicious damage done to the policyholder’s property. This can include graffiti, small fires, broken merchandise, or destruction of walls, doors, or glass. Malicious mischief is very similar, and it’s typically defined as any property damage done with vicious or malicious intent.
Civil Authority Coverage
Civil authority coverage is a kind of business income coverage for businesses who may be forced to limit their hours or staffing. With this kind of coverage, businesses will be reimbursed for any income they might have lost as a result of protests or riots. However, businesses seeking civil authority coverage will have to undergo a short waiting period before being assisted.
Glass is one of the most easily damaged properties during protests and riots, which is why most commercial policies cover standard glass damage. For an added premium, some companies require standard glass policies to be added to your agreement.
Business Income Coverage
Business income coverage serves to reimburse businesses for any money lost as a result of being forced to temporarily close their doors. Business income coverage usually covers business losses caused by riots and protests, and they typically require the business closure to be a direct result of property damage caused by protests. As mentioned earlier, civil authority coverage is a kind of business income coverage which covers losses caused by reduced hours. Business income coverage is one of the most important tools for businesses being impacted by protests, so policyholders might want to check their policies over if they think their business could be damaged by protestors.
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