Business Interruption Insurance Claims
Many business owners purchase an insurance policy with business interruption insurance. While property insurance policies generally provide coverage to repair damage, business interruption insurance policies can cover lost income and profits. Insurance policies with business interruption coverage generally provide payment to recover things like net income that would have been earned, lost profits, normal operating expenses, and various extra expenses. To be clear, business interruption policies like all are subject to conditions, limits, and various exclusions. It’s important to carefully review the terms of your business interruption coverage.
All businesses should do routine insurance audits and seek to procure proper business interruption coverage. Insurance companies accept this type of risk and gladly accept payment for significant premiums on a yearly basis. Yet these huge corporations routinely seize on any attempt to deny or underpay valid claims with the expectation that policyholders won’t dispute their position or have the resources to fight back. Recovering the proper payout is no easy task while dealing with the fallout from an unexpected disaster.
At Warner & Fitzmartin, we are here to help protect your rights and maximize your recovery. If you have any questions about a claim or your insurance policy, contact Warner & Fitzmartin to schedule a free consultation with a lawyer.