Insurers say looting is covered under most insurance policies for businesses

[Yo_Mama_Been_Loggin]

Fraser Ross, owner of the popular Los Angeles boutique retailer Kitson, has boarded up his three stores. The once-thriving business is one of so many retailers experiencing the fallout from the riots and civil unrest that has ravaged the U.S. in recent days.

On the heels of the coronavirus outbreak and widespread business closures, now many business owners are assessing losses and damage from vandalism and looting.

"It's more devastating," said Ross. "With coronavirus, you were working with your vendors, your landlord ... We're now at a level where we have boarded our stores, and we have to get guards with weapons."

Ross estimated his stores have at least $400,000 in damage. He has begun the process of filing a claim with his insurer The Hartford Group.

https://www.msn.com/en-us/money/companies/insurers-say-looting-is-covered-under-most-insurance-policies-for-businesses/ar-BB14ZxlQ?li=BBnbfcN

[GitRDun]

1. It can still be devastating, even with insurance

Property insurance will cover the physical damage and stolen items.

I wonder how many of these small guys have business interruption insurance which covers loss of income while shut in.

Even if they do have business interruption, deductibles are typically 45 to 90 days.

That's a long time with no revenue.

My heart goes out to them.