As a business owner, your income pays your business and personal bills and provides a financial safety net for you and your family. If your business is forced to close because of a disaster, it can cause some severe hardship for everyone. Things like stress and worry, lack of finances, a possible lack of coverage in health insurance, and other hassles can make the recovery period a nightmare.
Business interruption insurance – most commonly known as business income insurance – covers income losses after a business closure caused by some form of physical damage. The damage must be caused by a covered peril such as a hurricane, fire, or earthquake. But the coverage doesn’t kick in immediately.
This causes many business owners to go bankrupt. Many will work harder to deny a payout than they will to accept your claim. They will use improper methods to calculate your losses so they don’t have to pay, or will delay the payment of your business income loss claim. Your business is vital to you and your family. You turned your dream into a reality, and should have the chance to recover your losses and get back to business.
If your business must close temporarily because of a fire, natural disaster, or other catastrophe, your business interruption insurance should be there to help you through this challenging situation. But you may need an experienced attorney to help you recover and re-open your business. If your claim was denied or underpaid, contact Louis Law Group at (954) 676-4179 for a free no-obligation consultation or case evaluation. We will stand up for you and get you the settlement you rightfully deserve.