Whether it be travel, business interruption, workman’s comp, or even life insurance, it is important to consider what the impact of the Coronavirus is having on your insurance policies. While the waters are still murky, it is a good idea to prepare for anything. Here are some things that you can do right now:
1. Carefully Review Eligibility
Review your insurance policies with a fine toothed comb. For example, many travel insurance policies are now claiming that the Coronavirus (depending on when you purchased the insurance) is considered a foreseen circumstance. Depending on when you purchased your travel insurance you may or may not be eligible for reimbursement.
2. Lost Wages & Bills Accrued
Keep careful track of your losses. Whether you are a traveler, a healthcare worker who has contracted COVID-19 on the job or an at-risk individual who is worried about the security of your life insurance, it’s important to keep track of costs such as lost wages or medical bills accrued. You also may want to look up health insurance laws by state.
3. Hire A Professional
If you think there could be a threat to your livelihood in any way, consider having a lawyer review your insurance policies with you. Things like insurance rights, health insurance cancellations laws, and health insurance law in 2020 may need an expert’s closer look.
While no one wants to think about the worst that can happen, it’s important to safeguard yourself as much as possible from any further damage the COVID-19 crisis could have on your financial and overall well being. Being in the know about your rights and your insurance policies is one way you can protect yourself.
Chuck Kozak is a veteran lawyer with nearly $1 Billion in settlements. Follow Kozak & Associates on Facebook to stay up to date with future blogs, tools, and resources we create to serve you. Need a free case review? Talk to Chuck.