How To Successfully Claim Business Interruption Insurance in Florida: Insights From a Lawyer

When operating a business in Florida, events outside your control, like hurricanes, could force you to close temporarily. If you have insurance to help with potential setbacks like this, you may still need a business interruption insurance lawyer to help fight for your claim.

Insurance companies could dispute your claim for a payment for many reasons. A business interruption claims attorney with a track record of success can help you fight for your payment.

How To Prove an Interruption to Your Business

A common reason for insurers to dispute or deny your commercial insurance claim related to business interruption is that you did not prove your losses. You must produce evidence that shows you had direct physical damage to your business property, resulting in a shutdown of your operations and, ultimately, financial losses.

Insurance companies will want more than your description of events, requiring evidence and proof to follow through on the terms set in your policy. A business insurance attorney can help gather this proof and present it in a format that satisfies the insurer’s requirements.

What Business Interruption Insurance Covers

Business interruption insurance covers your business losses for a specific period, usually up to a year. This gives you time to make repairs and prepare to resume your normal work. Payments you could receive include the following:

  • Loans related to the business operation and property
  • Costs of relocating the business
  • Lost revenue during the shutdown period
  • Monthly bills for utilities
  • Helping with some employee wages and benefits

Adding the Right Endorsements to Your Business Interruption Insurance Policy

If you believe you did everything required to file your business interruption insurance claim yet still receive a denial, the case isn’t over. You have the right to start corporate insurance litigation that attempts to overcome this denial. Without proper business loss legal representation, you may find this process impossible.

Perhaps the insurance company claims your interruption policy doesn’t have the right endorsements to cover your event. Some of the most important endorsements worth adding are as follows:

  • Flooding: If you must shut down because of a flood in Florida, you often need the relevant endorsement added to the policy for this event. 
  • Civil disruption: If the government forces you to shut down your business because of a protest or other human activity beyond your control, you usually need an endorsement to cover this situation.
  • Leader property: If your business relies on a larger nearby business to draw in customers, such as a restaurant near a theme park, you can add a leader property endorsement. If the larger business must shut down because of storm damage, this endorsement helps compensate for your revenue and foot traffic drop.
  • Suppliers: If a major supplier must shut down, disrupting your business, this endorsement covers your losses.

A commercial insurance claims lawyer can review your policy and tell you which endorsements you need to add. It is also imperative you are aware of the policy limitations and the time period allowed to claim lost income and the extra expenses incurred as a result of your business interruption claim. These time periods typically range from 30 days and up to 1 year. If you believe you have crossed every “t” and dotted every “i,” but the insurer still denies your claim, you may need the help of a commercial policy dispute lawyer.

Call Warner & Fitzmartin Today

Receiving a payment from your business interruption insurance claim isn’t always as easy as the insurance company makes it sound. Insurance companies are not beneath reducing or denying your claim just to make a profit. 

Count on Warner & Fitzmartin to lead the way in pursuing fair compensation. For immediate help with your case, call our business interruption insurance lawyer at (561) 803-0167 today.

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