Will Insurance Policies Compensate Business Owners for Losses due to the Coronavirus?
COVID-19’s Impact on Florida Businesses Between speaking with friends and family and watching the news, most of us know or have heard of people whose businesses have been negatively impacted by the coronavirus, but what may be less apparent are the steps that these business owners will take next in order to stay afloat and ultimately save their businesses as the devastating coronavirus virus sweeps our nation. From Florida’s northern cities of Daytona Beach with the International Speedway, to its popular mid-state attractions like Disney World and Universal Studios, all the way down to the bustling South Beach Miami and the gorgeous crystal waters of the Keys, Florida is one of the most sought out travel destinations in the world, and a large group of its inhabitants make their living by offering travel-dependent services such as restaurants, hotels, entertainment venues, and the like. However, authoritative orders to “stay at home” have caused business operations to come to a halt for many of these entities, leaving some of these business owners perplexed as they review their insurance policies for information regarding what, if any, recourse they have for compensation for this unexpected lost business. The attorneys at the Eberst Law Firm scour insurance policies...
5 Reasons Not to Skimp on Motorcycle Insurance in Florida
Many people often choose to purchase the least expansion insurance out there. This oftentimes means they’re getting the least amount of coverage available in their state. In Florida, you can opt-out of bodily injury coverage and more, leaving you with really bare-bones coverage. Florida is ranked six out of 10 for motorcycle accident fatalities. With Florida being one of the most dangerous states for motorcyclists, this isn’t a great idea. There are thousands of deaths because of motorcycle accidents each year, with 516 deaths occurring in Florida in 2021. The NHTSA (National Highway Traffic Safety Administration) states that motorcyclists are 35 times more at risk for a fatal accident than other drivers of motor vehicles, specifically passenger vehicles. Because motorcyclists are at high risk of injury or death, it’s important to ensure that you have good insurance coverage that can protect you in the unfortunate circumstance that you are involved in an accident. Here are five reasons why you shouldn’t skimp on motorcycle insurance in Florida. Reason #1: Medical Expenses Add Up Quickly When you get into any kind of accident that requires medical treatment, those bills can add up quickly. Medical treatment can cost you tens to hundreds of thousands of dollars. And while your insurance...
President Trump Supports Insurance Companies Paying Applicable Coronavirus Claims
Businesses May Get Compensation for Coronavirus Losses After All A light seems to be brightening at the end of the tunnel for business owners amidst the talks of reopening the country: on April 10, Trump spoke during his coronavirus task force briefing and acknowledged that he feels insurers should pay business-interruptions claims, so long as the insurance policy does not exclude pandemics. The Coronavirus has Wreaked Unparalleled Havoc on America’s Businesses The impact of Trump’s opinion, and of course the ultimate legislation that could come from his influential opinion, is huge for business owners as it is safe to say that most business owners have felt a negative impact from the coronavirus. Between greatly decreased sales and/or profits, struggles to pay/retain employees or dealing with mass layoffs, tensions with suppliers, fears from customers, and more, the coronavirus has completely changed the daily operations of most businesses throughout the world, and that is just speaking for those businesses who have been fortunate enough to keep operating during this pandemic. Goldman Sachs recently published an article stating that half of small business owners only saw being able to operate for another three more months due to the coronavirus’ impact on their operations. As a country that prides...
Clarifying the Misnomer of “Full Auto Coverage”
Is there really such a thing as Full Auto Insurance Coverage? Imagine meeting with your insurance agent, requesting to have complete auto coverage in the event you are involved in a crash, and then later sustaining severe injuries in a traumatic accident to only discover that your insurance provides minimal coverage for your treatment and only pays for some of your vehicle’s repairs. “Full coverage” means different things to different consumers, and even differs amongst insurance companies and insurance agents. For this reason, amongst others, it is very important to learn about the different types of insurance coverage so that you know exactly how you will be covered in the event of an auto accident. At The Eberst Law Firm, we would like to help you become aware and knowledgeable about the different types of auto insurance coverages so that you can elect coverages that are in line with what you would expect to be compensated for in the event you are involved in a crash. What is the legally required auto insurance coverage in Florida? The Florida Highway Safety & Motor Vehicles website advises, “Florida’s minimum coverage is $10,000 personal injury protection (PIP) and $10,000 property damage liability (PDL)”. PIP coverage provides payments toward...