As of the writing of this newsletter at the beginning of April, the spread of COVID-19 continues to change the way we live our everyday lives. It’s affecting health, well-being, and workflow for millions of people. It’s certainly not something to take lightly, but neither are the lessons we can learn from it. Use this time as an opportunity to be proactive and start preparing for your family’s future.
If there’s anything the current state of affairs is teaching people, it’s that it pays to be prepared. Warren Buffett once said, “Someone’s sitting in the shade today because someone planted a tree a long time ago.” You can only reap the benefits of preparation if you actually do the preparation. Whether you’re disaster planning ahead of storm season or thinking about the future of your estate and other affairs because of the current pandemic, use this time to be proactive for your future and the future of your family. There’s never a bad time to start strategizing your personal, professional, and financial needs.
When it comes to personal planning, think about what your family needs now and what they might need later on. What supplies will your family need to live comfortably for a stretch of time? What safety measures and practices should you put in place if any kind of disaster strikes? Also, reevaluate your auto, home, and health insurance to make sure they’re all up to date and contain provisions that you need.
Professionally, it’s important to remain vigilant with continuing education and certifications you need for your trade. With the changing economy, getting tactful with finances is becoming increasingly prevalent, so maintaining your credentials and seeking ways to obtain more of them is important. There are always courses and classes you can take online to supplement your knowledge, and they also present incredible opportunities to pick up a
new trade or craft that could benefit your ability to provide.
When it comes to your financial planning, if possible, always put a portion of your earnings into some type of emergency fund so you’re not leaving that part of your life entirely up to the fate of the economy. The current pandemic is also making people truly think about what would happen to their loved ones should something happen to them. What do you want to leave behind? What kind of security do you want to provide your family? Work together with your significant other to get on the same page with your estate and finances. Share plans and account information with one another and talk about why budgeting is important. Communication is key.
At The Whisler Law Firm, we want you to know that we’re still here for you. We’ve been reaching out to past and current clients to check in and see if there’s anything we can help them with. In times of concern and distress, ample communication is too important to ignore. And when it can’t be done in person, it becomes that much more important to be proactive about reaching out in other ways. So we’re reaching out to assure you that if you’ve ever been a part of The Whisler Law Firm, you’ll always be like family to us. We can help you get started with any preparation or planning you are ready to do and provide peace of mind should you need it.
– Josh Whisler
CLOSED FOR BUSINESS, OPEN FOR COVERAGE
INSURANCE MAY PROTECT YOU FROM COVID-19 LOSSES
Many concerned business owners have recently inquired about whether they have coverage for loss of business due to COVID-19. If you ask your local insurance adjuster, they’ll likely tell you that no insurer has an epidemic or pandemic endorsement. While it may be true that your insurer doesn’t offer this coverage, specialty carriers have offered endorsements in the past to assist businesses forced to close due to pandemic. But if you aren’t currently with one of these carriers, they don’t present much of an option. That means it’s time to explore different alternatives.
Your first step is to determine whether the “business interruption” or “loss of business” portion of your current policy will apply to the current situation. Business interruption insurance protects business owners against economic losses stemming from the closure of their operations. Losses in these contexts typically result from fires, water damage, or natural events like hurricanes, which force the business to close and stop operating. Every policy has its own variations and definitions, but generally speaking, the context of these policies reads as “direct physical loss or damage by a peril not otherwise excluded.” The million-dollar question is whether or not the effects of COVID-19 can be interpreted as “direct physical loss” to a business.
Also, know that most commercial policies have a civil authority provision. This coverage is triggered when the government forces a business or establishment to close down due to a physical event, such as terrorism. It stands to reason that an argument could be made that due to recent emergency declarations in response to the pandemic, business owners might have a claim for business interruption by way of this provision.
When it comes to business, things are rarely black and white. If your business has been forced to temporarily close due to COVID-19, make sure you explore your insurance policy thoroughly for ways it might be covered. Use trusted insurance professionals during the process and be sure to reach out to The Whisler Law Firm if you need further help with your property damage and insurance claims.
WE’RE LAUNCHING A NEW PERSONAL INJURY APP
The Whisler Law Firm has a brand-new personal injury app launching soon so that you can get the help and information you need anytime, anywhere.
Our new app will allow clients to:
• Create a personal account with our firm
• Live chat with our office
• Find information about what to do in the event of an accident
• Get updates on existing cases
• Store useful information right inside the app, like insurance details, licenses, and roadside assistance contacts
The app supports over 100 different languages and makes it easy to refer The Whisler Law Firm to a friend or family member in need with just one click.
We want to make our services and expertise accessible to all our clients whenever they need it. If you suffer a personal injury, the last thing you find yourself wanting to do is wade through the process of securing legal help. Our new app will make it easy to get the assistance you need from the very start.
Our goal is always to put people first, and this personal injury app will help us do that. We want to make the process as easy as possible for our clients so they can focus on their recovery and returning to normal life.
Keep an eye out for future announcements about the app’s launch, and in the meantime, feel free to reach out to our office directly with anything you might need.