The Corona Virus and Your Insurance

These are extraordinary times— since so many jobs and businesses have been impacted, insurance companies are stepping up to accommodate clients in a number of ways. Here are some things to consider if your income has been compromised:

If you need more time to pay your insurance premium, contact us to see if the insurer will extend your due date.

If you are trying to reduce overall expenses, contact our office for a coverage review. We can provide options, whether that be quoting with different insurers, or showing coverage options that will lower your premium.

If you have your home/renters’ and auto with different insurers, get a quote combining with one insurer to get the package discount.

If you own a business and have lowered payroll, give us a call to recalculate your workers comp and general liability. We can do this in the middle of the policy year as opposed to waiting for the next renewal.

If you own a business and are cutting back on inventory or other expenses, call to get quotes reducing your limits of coverage.

If you owe money from an insurance audit, give us a call to see if we can have the insurance company provide more time to pay.

Regarding health insurance— several insurers are stepping up to waive deductibles and fees if you need medical attention for Covid 19. So far Aetna Insurance, Humana, Blue Cross/Blue Shield and Cigna have pledged to waive fees associated with Carona Virus treatments. Other carriers will hopefully step up soon.

Most auto insurers recognize that driving has significantly decreased and expect claims to drop. In response auto insurers are offering a variety of savings opportunities, like increased dividends, refunds and lower premiums. It is estimated that these savings will reach 10.5 billion.  Check with our office to see what your insurer is doing to lower premiums.

Insurance companies realize this is a unique time for all, so they are showing flexibility whenever possible. Feel free to reach out to our office if you have a situation you would like to discuss. Call 919-875-8889 or info@gsuggsins.com.