If you own a business, you may already have various insurance policies to protect you against losses due to fire, natural disaster, and other causes. While those insurance policies are important, because property damage can greatly affect the ability of a business to continue its operations, they may not protect you against the full impact that a fire, hurricane, or other destructive event may have on your business.
As soon as the property where your business is located is damaged, your business is likely to begin losing money. Your business will continue to lose money while you focus on the pressing tasks of repairing the damage and deciding whether and where you will continue business operations. Fortunately, you may be able to recover for some or all of the financial losses that you sustain as the result of an interruption in the operation of your business - if you have purchased a business interruption insurance policy.
Business interruption insurance is an insurance product which protects business owners from the losses that they experience as the result of a disruption of their normal business operations by an event that was beyond their control. In other words, the goal of business interruption insurance is to compensate business owners for what they would have made had the disaster not occurred.
Business interruption insurance claims must necessarily include information about the loss that has caused the business to suspend operations, as well as business records like revenue documents, historical sales data, and historical expense data. Detailed statements regarding the ways in which the event that caused the physical losses to the business have affected various aspects of the business can, when read in conjunction with the other supporting documentation, tell a complete story about how your business has been affected by the fire, flood, or other disastrous event that happened.
As you can see, claims for business interruption are designed to compensate business owners for the losses that they incurred by suspending their operations after a disaster strikes. Unfortunately, if you have filed a business interruption insurance claim, you may find that your insurance company is not willing to pay your claim, or that they are offering you a settlement which is much lower than the amount of losses that your business has sustained. Insurance companies routinely issue these kinds of responses to many insurance claims, even claims that are completely legitimate.
Do not be discouraged if you initially receive a denial or an inadequate settlement offer from your insurer, because you do not have to accept them. An experienced Miami business interruption insurance claim dispute attorney may be able to help you. My law firm represents business owners in business interruption insurance claim lawsuits in Miami and all over Florida. The Law Firm of J.P. Gonzalez-Sirgo, P.A. offers free consultations and case evaluations. No Recovery, No Lawyer Fees. Call us today, at 305-461-1095 or call us Toll Free, at 1-866-71-CLAIM.