Are you insured against acts of terrorism losses?

[Mikey P]

for $59 a year I can be reimbursed 85% of my business losses if shut down due to acts of terrorism.

http://www.insurancejournal.com/news/national/2013/04/30/290271.htm




I wonder if student hippies putting salt in my gas tank would be considered a terrorist act?

 

[Scott Rogers]

State farm now has that crap as a mandatory add on to their liability insurance, along with about a half dozen other mandatory up charges. Not to mention they increase the price on comercial vehicles as well. Sad part is I shopped them, after i got notice of the increases, with 2 different independent brokers and they were still cheaper then any other option.

 

[Mark Saiger]

Got it...and more

Mark Saiger

 

[floorguy]

yea, i think its mandatory now.....

just a way to ding you again/some more....because how hard do you think its going to be, to get them to pay on it??? and wtf does it cover EXACTLY??

 

[SMRBAP]

In mine, mandatory item.

 

[steve_64]

i havent a clue and dont care.

 

[Desk Jockey]

Yes and earth quake insurance too.

 

[Shawn Forsythe]

Who decides whether the act is "terrorism"?

As we already know, there are those who prefer to classify most acts of terrorism as "workplace violence" or "acts of man-caused disaster", hence obviating relative responsibilities.
Do these policies relate all the terms equally, or can the insurance company assign the cause to be outside of your coverage?

 

[Desk Jockey]

Not sure but you know how policy's are offered.

Insure something that is unlikely to happen. If it does happen raise the rates. If it continues to happen add an exclusion so it's not covered.

 

[jcooper]

Wish I could get insured, against my insurance guy!

Every time I see him - Ohhhh, we need to change this, add that, do this different..... All more $$$$.

 

[Vivers]

We're with State Farm so yes we also have it

 

[KevinL]

Who decides whether the act is "terrorism"?

As we already know, there are those who prefer to classify most acts of terrorism as "workplace violence" or "acts of man-caused disaster", hence obviating relative responsibilities.
Do these policies relate all the terms equally, or can the insurance company assign the cause to be outside of your coverage?

I just got a new policy with the new shop we bought. It is a federal program backed by the treasury dept. To be declared an act of terrorism it must be certified by the Secretary of the Treasury, in concurrence with the Secretary of state and the attorney general of the United States. The government will back losses 85% up to 100 billion dollars. You can opt out.

 

[Greg Cole]

Of course! You can opt out with certain companies but That's kinda like living in a flood plane and not having flood insurance.



.... - now Free

 

[steve_64]

Of course! You can opt out with certain companies but That's kinda like living in a flood plane and not having flood insurance.



.... - now Free

a lot of terrorists where you live?

 

[FredC]

It wouldn't take much to shut ATL down resulting in major losses for Greg.

These guys probably could have done it.

or a few car bombs/ied or shootings.....

 

[Bruce Humphrey]

Who worries about terrorist when you have Flint and Detroit just south of you?

 

[Greg Cole]

This is America. School shootings are categorized as terrorist acts now.

a lot of terrorists where you live?