Business Interruption Claim
Commercial Insurance Policy
& Loss of Business Income
While a fire insurance policy covers damage to a property after a fire, business interruption insurance compensates for lost income when a business must close down due to disaster-related damage such as a major flood or civil disruptions as seen with the COVID-19 pandemic. It also covers operating expenses that must continue to be paid after the catastrophe.
Business interruption insurance offers protection when you need it most — when your business is temporarily unusable and has no way to generate income.
Denial of a business interruption insurance claim can be just as devastating as the catastrophe that closed your business in the first place. With the insurance coverage you’ve paid for, you can rebuild your business; without it, few businesses can survive.
Insurance companies have been known to take advantage of vulnerable policyholders. They may use inappropriate methods of calculating losses in an attempt to minimize and/or delay payment of claims.
If your claim has been wrongfully denied, we can help you secure a business income insurance recovery and possible Bad Faith remedies as well. Our Houston-based Insurance Claim Law Firm knows how to address these tactics and can handle the insurance company on your behalf so you can focus on repairing or rebuilding your property.
WHY YOU NEED AN ATTORNEY
Maximum Recovery Of
First and foremost, if you have business interruption coverage and are losing income due a disaster, you must file a claim as soon as possible even if it is not yet clear how much income you will lose. If you don’t act now, you will have no basis to appeal a denial or file a lawsuit against your insurer if needed.
If an insurance company attempts to delay or deny business interruption losses, this can lead to even more problems for the hard-hit business owner. Disputes with the insurance company can be harrowing for a business owner to deal with alone on top of all the other difficulties associated with your business being shut down by no fault of your own. We can help speed up the process and ensure you get what you deserve by:
- Reviewing your commercial insurance policy company language
- Working closely with you and your accountants to determine losses
- Communicating with the insurance company on your behalf
- Working with our experts to present you claims to the insurer and courts if needed
For business owners, the biggest risk is receiving a claim denial or unfair offer. We understand time is of the essence not only to get your business thriving again but also to ensure every legal remedy is available to you. Dealing with the insurance company on your own can be overwhelming but we can help to ensure your business is treated fairly.