Are you an entrepreneur? If only everything went smoothly and the way we all plan it! Have you ever dreamed that something like the following could happen to you?
All over the news and on social media is the story of an Alexandria, VA Limo Car Service owner who suffered severe damage to one of his vehicles as a result of the civil unrest that unfolded in Washington, DC on the day of the president’s inauguration.
The business owner told reporters it was likely the insurance company would not pay for the damage sustained by the limousine that was set on fire during protests that had turned violent and ugly. Estimated replacement costs are in the thousands of dollars.
The inside story on insurance and protester damage
What is insurance for if not for times like these?
In fairness, insurance is for catastrophic times like these. However, the correct insurance must be present for the cover to take effect. Generally, the insurance will pay for personal injury and property/vehicle damage incurred at the hands of protestors.
While the author of this article is unaware of the specifics of Mr. Ashraf’s insurance coverage, it is safe to assume that his policy contains one or more of the following aspects that prevent him from collecting damages:
• His insurance covered acts of vandalism, but not damage by protesters or rioters.
• His insurance company may hold his chauffeur service responsible for the liability resulting from not taking proper precautions against the damage.
• His insurance policy may contain explicit exclusions exempting him from paying damages.
• His specific policy may contain a very high deductible in such cases, making any claim not worthwhile for tax purposes.
If one or more of these points do indeed apply in the case of the limousine set on fire by a protester, there are other venues the hapless limousine business owner can use to receive compensation for their losses.
These include:
• filing a lawsuit or claim with the protest organizers
• Filing a claim with related government agencies
• Requesting financial support from various charitable organizations
Of course, in complex cases like these, entrepreneurs like the one in the above story would do best to consult with a reliable, experienced, independent insurance company that has their clients’ best interests at heart. By discussing all possible scenarios in light of the politics and location where the business operates, an agent should be able to educate a business owner on what type of policy is appropriate for needs while exploring the network for suitable options at the most competitive lowest quotes.
Limo owner says insurance probably won’t pay for protest damage
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