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How COVID-19 affects your company's insurance coverage

  Keller Brown Business Insurance COVID-19 has changed the way people do business. From teleworking to new services, companies have had to get creative to stay open and profitable. However, with major changes in services and locations, it is important to evaluate your current insurance and communicate any changes to the business with your agent.

Here are some ways COVID-19 has affected companies and what it can mean for your insurance coverage. [19659003] If your company now supports telework …

A report showed that 67% of companies expect to work remotely permanently or long-term. Is your company one of them? If so, this may mean new coverage requirements or changes to your existing plan.

For example, if you no longer have a physical office, you should discuss your commercial property insurance with your carrier and whether you need to eliminate it or reduce its limit. You may also want to check if your commercial property insurance extends to where your remote employees are for extra protection.

In addition, you should evaluate your general liability insurance. This coverage protects your business from lawsuits that may occur during business operations. If your workforce is now remote, your liability insurance should also cover areas where your employees are located so that you are completely protected.

If the majority of your team is remote, you must also worry about an increased risk of cyber threats. . Your employees can use an unprotected network at home and compromise company information. Before the disaster occurs, make sure you are covered: talk to your carrier about cyber liability insurance, which can help protect your valuable information should something happen, even remotely.

If your company has opened another location … [1
9659004] Maybe the pandemic has caused you to open new service premises or moved your business online. These location changes require a conversation with your operator to ensure you have the right on-site protection.

More than 85,000 companies have turned to e-commerce online stores during the pandemic, eliminating the need for their bricks and mortar at the moment. If yours was one of them, you need to talk to your agent – you need to update your insurance so that it includes general liability insurance, cyber liability insurance and other types of online coverage for your new business.

If your company has moved locations and you did not communicate that change with your carrier, your new location may not be covered. This is why it is important to be open and honest with your insurance company so that you remain protected.

If your company has changed or accepted a new service …

The pandemic has also led companies to adopt new service methods. to stay in business. Restaurants are an excellent example: with restrictions on indoor dining, many restaurants have had to turn to delivery to be open. This change in the service method requires new insurance coverage such as commercial car insurance, which can protect delivery drivers and company cars.

If your company now offers a new type of service, this must also be discussed with your insurance agent. New services may involve new risks and liabilities that are not currently covered by your existing policy.


Companies have had to get creative during the pandemic to stay afloat. Your insurance agent wants to see you succeed, which is why they are here to get creative with your coverage in return. The best thing you can do is communicate all the changes in your business – physically, operationally or otherwise – so you can get the right coverage to keep thriving. If you have questions about your coverage or are interested in extending your policy, contact us today.

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