Many small businesses have seen damage and looting over the past months. The reality of trying to rebuild and reestablish operations has become a major hardship, and financial pressures pushed some to reduce their coverage.

In an interview with Forbes, partner P.J. Miller noted that some business owners called to review their insurance during the pandemic shutdown, however, without the proper coverage, business owners may fall short of what is needed to resume operations.

If the cuts included business interruption insurance and, on reopening, the company found itself in a riot, that could be a problem. Time out of business means lost revenue. No coverage, no money coming in when it’s impossible to operate.

Many small businesses opt for 30, 60, or 90 days of interruption insurance, P.J. said. However, serious damage could push recovery times far past those limits.

Read the full Forbes article.

Questions about business insurance coverage? Contact Wallace & Turner at (937) 324-8492 in Springfield, (937) 652-8492 in Urbana, or info@wtins.com.