Business interruptions can be disastrous for Florida business owners. When you must shut your doors do to circumstances beyond your control, such as a natural disaster, every minute you are losing valuable income. However, business income loss insurance also known as business interruption insurance has helped many business owners stay afloat during a crisis. According to the Insurance Information Institute, this coverage kicks in when your business is shut down due to a damaging event like a fire, windstorm or hurricane. During this time, your company is still obligated to pay its bills and may incur additional expenses as a result of the disruption. This coverage add-on can help cover the cost of day to day operations.
But what happens when your insurance company denies your business interruption claim or underpays? That’s when it’s time to call the insurance experts at the Louis Law Group. While business interruption insurance may save your business, understanding when coverage is triggered can be confusing. If you are suffering from a halt in operations due to a natural disaster, you need experienced insurance litigators on your side. The Louis Law Group knows how hard it is to deal with these issues. That’s why we want to help you manage your business income loss claim from the beginning. We’ll help you get the settlement you deserve for your business.
Let’s look at an example: We’ll say you have a cash flow of $8,000 per month. A hurricane has damaged part of your inventory and equipment. This results in a substantial income loss to your business. In this case, the insurance company may be tempted to say that your company suffered losses on just the inventory and equipment. However, you might also incur additional costs and damages. In a situation like this, you need someone on your side who can make the insurance company realize that your losses did not just stop at property damages.
If you are experiencing a business income loss, don’t hesitate to contact the Louis Law Group today for your free consultation. We will listen to the facts of your case and help you determine what the best course of action is for you and your business.