The executive orders enacted due to Coronavirus (Covid-19) took a toll on businesses all over the country, and our local businesses in the Peoria area are no exception.
One important consideration is to reach out to your insurance agent regarding business interruption coverage that may be included in your commercial insurance policy.
Business interruption insurance covers lost profits and extra expense incurred under extenuating circumstances that necessitate a business to shut down some or all operations.
Examples include fire, flood, outage, inclement weather, etc. The shelter-in-place orders and other necessary precautions surrounding the Covid-19 outbreak are certainly the extenuating circumstances first and foremost right now.
I have experience in compiling business interruption claims and am happy to assist your small business in compiling a business interruption claim for lost profits and extra expense incurred as a result of Covid-19.
Please e-mail me at nicole@voelkercpa.com or call me at 309-369-6430 for more information and guidance.
Click here for more information on how Business Interruption Claims are filed and the general process of determining the claim amount.