COVID-19: We are here to help
Dear Friends & Family,
It is hard to believe it has been over a year since our lives changed so drastically from the COVID 19 pandemic. Since then, we have had to find new ways to do business to ensure we can continue to provide you with the service you need to keep you safe. We want to express our sincerest "Thank You" for your support and patronage throughout this time. With the roll-out of vaccinations taking place over the next several months, it brings us great joy to know we will soon see you again, face to face, in safer times.
Our COVID-19 protocols remain in place, and we continue to be just a phone call, email, or text away concerning any of your personal or commercial needs. We have provided the details of some Frequently Asked Questions concerning the COVID-19 pandemic below.
How does COVID-19 affect my Personal Insurance?
Please see below for a list of frequently asked questions regarding the COVID-19 Pandemic and your Personal Insurance Policy.
The best way for you to stay in touch with your Broker is to ensure we have your email address so you can receive the latest information about your insurance policies.
Unlike postal or courier services, email is instant, contactless and accessible anywhere there is internet service available. Having an email on file with us also allows access to your policy documents, electronic liability slips, claims processing, billing statements and more with the Jones Client Portal. Visit the Jones Client Portal for more information.
There are currently no specific adjustments to personal property insurance due to COVID-19. However, should you need to make changes to your home policy regarding working from home, or any home renovations you have been taking care of during this pandemic, please reach out to your broker to make sure you are adequately insured.
Both overall kilometres driven in a year and the primary reason for which the vehicle is driven account for part of the overall premium calculation. If you used to commute and are now working from home, no longer travel for business or offer u-ride services, or are no longer driving your kids to extracurriculars every day; these are all changes in how you use your vehicle.
Whether you have reduced driving distances or are planning on parking a vehicle for the summer, premiums can be adjusted to reflect temporary changes in use.
How does COVID-19 affect my Business Insurance?
We understand the impact COVID-19 has had on businesses, and we are here to help. See below for a short-list of essential questions to think about when evaluating your business's level of protection.
Your vehicle use may have changed as a result of COVID-19. Maybe you had to park all or a portion of your fleet, or you are using personal vehicles to deliver products to your clients. These changes affect your coverage and premium.
We will work with your insurance carrier to make the appropriate changes to your policy. Contact your broker to learn more.
Vacant and unoccupied premises are more susceptible to fire, water or theft losses. Most policies require you to notify insurers when premises are vacant or unoccupied for a certain length of time. Carriers are making special provisions during this time. However, you are still obligated to protect your premises and conduct regular check-ins.
Talk to us to discuss your policy terms and to ensure you are protected while your business is unoccupied.
You may be retooling your business to produce different products to meet current demands and help the efforts to fight COVID-19. Your current policy is likely specific to the type of operations and the type of products you are producing.
Talk to us if your operations have changed so that we can work with your carrier to endorse your policy accordingly.
Commercial Liability policies are usually based on revenue. If your revenue has been impacted significantly due to closure or business restrictions as a result of COVID-19, you may be able to amend your projected revenue.
Some policies contain clauses that allow you to obtain some return premium if the results of the business are less than forecasted.
If you are unable to meet your premium payment, please contact us to discuss options. We can work with your carrier or premium financing company to discuss deferral options or alternate payment plans
While every policy is different and unique, most Business Interruption coverage in Ontario and Canada is triggered by bodily injury or property damage to the building and/or its contents.
Business Interruption cannot be triggered on its own. A slowdown in business, forced closure or quarantine are neither considered bodily injury nor property damage.
An extension in policy wordings called "interruption by civil authority" does exist but refers to bodily injury or property damage to a neighbouring or adjacent property where a business is closed by order of civil authority for clean-up, investigation, etc. Through the use of standard IBC wording, there is no coverage for business interruption due to an outbreak or disease.
The majority of commercial policies do not provide coverage for business interruption due to a pandemic. However, not all commercial policies are created equal and some may provide special extensions. As your trusted advisor, we would like to understand how you have been impacted by COVID-19, so that we can review your coverages and assess all potential options available.
Still Have Questions?
Reach out to your Broker today if you have any further questions about the impact COVID-19 has had on your policy (or policies), or if you would like to review and/or make any changes to your policy.
Moving Forward Together
For small businesses, the loss of traffic and sales can have significant, long-term effects. We will work with you to discuss options, coverages, and the next steps to help you get back on your feet again.
The past year has brought about overwhelming change. We are here to help you navigate these changes from our carrier insurance companies and connect you to resources which support small and midsize businesses. Please reach out and know that we are here to help whenever you need us.
As always, we're with you…
Jeff M. Jones, CAIB | President
Jones & Associates Insurance
Tel: (807) 343-9444 | Fax: (807) 345-4955