Filing a COVID-19 Business Interruption Claim With Farmers
COVID-19 has substantially affected businesses. Forced closures and government regulations such as shelter-in-place orders have diminished the number of customers and sales, putting many businesses in extremely precarious positions. If you own a business and are struggling to make ends meet during the pandemic, find out if you can file a business interruption insurance claim with Farmers Insurance for relief.
Does Farmers Business Insurance Accept COVID-19 Claims?
Business interruption insurance covers losses related to having to close down a business temporarily. While a shut-down will interfere with profitability, insurance benefits through Farmers can replace lost income to allow you to continue paying for things such as employee payroll, mortgage, utilities, overhead costs, supplies and taxes.
Business interruption insurance can help you stay in business while you repair property damages from a covered event, such as a storm, or relocate your business. In some cases, it can help your business stay afloat during financial trouble from a pandemic. Farmers is one of many business insurance companies that offer financial relief for COVID-19-related losses
Some business insurance providers have expressly stated they will not cover COVID-19 due to virus exclusions and clauses in their policies. Farmers, however, is not one of these companies. According to Farmers Insurance, business income coverage is available for up to three years for covered events. It will determine whether the coronavirus is a covered event on a case-by-case basis.
What Do I Need for a COVID-19 Business Interruption Claim?
To qualify for business interruption insurance from Farmers, you must have purchased this type of policy pre-coronavirus. You must have had business interruption insurance prior to needing benefits and be up-to-date on your premium payments. When you submit your claim, you must accompany it with evidence and information proving your eligibility for coverage as well as establishing your losses.
- Copy of your insurance policy
- Documentation of your state or city’s coronavirus mandates
- A list of your claimed losses, along with evidence
- Receipts and financial documents showing how much your business made before COVID-19
- Any other relevant financial information
Farmers Insurance is offering business interruption benefits for COVID-19 to qualifying clients based on the specific facts of each claim. Businesses that have had to close down due to COVID-19 mandates, those with significantly reduced hours of operation, those with substantially different business models, more intense cleaning procedures and reduced staff members may all qualify for these benefits from Farmers. Obtaining benefits, however, requires submitting all the required paperwork and evidence by the deadline.
How Can I Contact Farmers Insurance for More Information?
If you need more information regarding your business interruption insurance policy or coverage from Farmers Insurance, you can contact the company through several different outlets:
- Calling the customer service phone number at 1-800-435-7764.
- Filing a business claim online.
- Visiting the Farmers website for tips for support during the COVID-19 crisis.
- Finding an agent near you to ask questions and learn more.
- Using the Farmers Insurance mobile app.
Do I Need an Attorney for a Business Interruption Insurance Claim?
You might not know whether your business will survive COVID-19. This is a frightening prospect as a business owner – one that affects your livelihood and that of all of your employees. A successful Farmers Insurance business interruption claim can help you make ends meet while you and the rest of the world wait out the coronavirus pandemic, allowing you to keep your company.
Hiring a lawyer can improve your chances of claim approval and a fair settlement. A business interruption lawyer with experience handling COVID-19 claims can help you navigate this relatively new and constantly evolving situation. Your lawyer can properly plan your claim, help you gather supporting evidence and documentation, and make a strong case for benefits on your behalf.
A lawyer can give you the information and advice you need to keep moving forward during this turbulent time. Learn more about business interruptions due to COVID-19 by calling Surrano Law Offices 24/7 at (602) 264-1077.