For clients in the hospitality industry or businesses that are inordinately affected by Covid-19, many companies — especially hospitality industry specialists — are offering billing and premium relief programs. This means they are willing to suspend or delay billings until the crisis is over. It makes sense because if the business is not operating, there is far less exposure to the carrier. Also, understand that policies like General Liability and Workers Compensation are based on either sales or payroll. As sales and payroll go down, so will the premium. It may be possible to lower those estimates on your policy now and lower your bills.
Businesses that have been impacted should discuss this with their agent or give us a call. Tedford Insurance is committed to staying open and offering solutions throughout this difficult time.