Business Interruption Often Leads To Business Closure
According to statistics cited by BASF/Wyandotte in the Disaster Recovery Journal, 43% of businesses that closed due to catastrophe never reopen, and 23% of those that survive are forced to close for financial reasons within the following five years. Even a short-term closure can have devastating effects on your books, and even if you do manage to return to business, the long-term consequences of your business interruption could continue to impact the success of your company for years to come. Business Interruption or Commercial Property Insurance can cover you in case a disaster strikes.
Any disaster can lead to structural damage to your place of business, damage to your business equipment or contents, lead to an interruption in your ability to conduct business, or result in a complete shutdown of your business, even if temporarily.
Most businesses have purchased insurance to protect their business in hopes that in the event of a catastrophe they will quickly be able to get their employees back to work and get back to business. Business owners understand that an insurance policy is just a contract and business men and women deal with contracts every day. You paid your insurance premiums, which was your end of the deal, pursuant to your insurance contract. Now that your business has been damaged because of a catastrophic event, you file your claim and you believe that you will be paid quickly on your claim, which is what you believe is the insurance company's end of the deal. You need to get up and running. After all, you have employees that need to get back to work so they can support their families and you have clients that you are accountable to.
Unfortunately, getting your claim paid is almost never as easy as filing a claim and answering some questions for the insurance company. Before you know it you are in the middle of a quagmire of technical terms and ad nauseum requests for information from your insurance company all the while attempting to keep your head above water and sustain your business.
Level the Playing Field with Your Insurance Company
Your time is better spent working on sustaining your business. Not on fighting with the insurance company. As a former claims adjuster, I will navigate the claims process for you, letting you focus on what you do best: taking care of your business. Let us level the playing field for you.
Insurance companies are in the business of making money. By delaying claims, insurance companies get to hold on to their money a little longer. Money that is invested somewhere earning them money. As far as insurance companies go, the only thing better than delaying a claim is denying a claim.
Insurance claims lawyer J.P Gonzalez-Sirgo has been representing insureds in insurance claims since 1994 and along with an experienced team we hold insurance companies to their word. We do exactly what insurance companies fear: We hold them to the promises that they made in the insurance policy that they sold you.
We use our experience and the experience of our selected consultants to analyze your business and commercial damages and the available coverage under your policy and other issues such as:
Insurance Claims Issues
- Denied Claims
- Underpaid Claims
- Claims Delays
- Rejected Claims
- Lowballed Claims
- Insurance Coverage Dispute
- Requests for Examinations Under Oath
- Requests for Sworn Statements
- Requests for Recorded Statements
- Issues Related to Actual Cash Value
- Issues Related to Replacement Cost Value
- Issues Related to Business Interruption
- Florida's Valued Policy Law
- Recovery for Theft or Vandalism Damage
- Costs of Debris Removal Issues
- Contents Claims Issues
- Law and Ordinance Issues
- Fraud or Arson Accusations
- Total Loss or Constructive Total Loss Issues
- Appraisal or Appraiser Issues
- Umpire Issues
- Supplemental Claims
- Litigation and Trial
- Bad Faith
The Law Firm of J.P. Gonzalez-Sirgo, P.A. represents businesses with insurance claims resulting from damages caused by any of the following perils:
- Natural Disasters
- Water Damage
- Plumbing/Pipe Burst
We routinely represent business owners who have suffered damages to their businesses with the initial preparation and presentation of their insurance claim throughout negotiations, settlement discussions, and through litigation if necessary, including in state and federal courts.
In Case Of Business Interruption or Property Damage:
Mitigate, Document, Notify, and then CALL US Immediately
The moment that you suffer business interruption or commercial property damage, do as follows:
Use your best efforts to make temporary repairs so that the condition doesn't get worse. This will prevent the insurance company from later claiming that your claim losses are the result of your failure to mitigate your damages. For example, if you have a roof leak due to a storm, hire a roofer to put a tarp over the leak area. Try not to pay the repairman in cash for the temporary repairs and if you do have to pay in cash, get a receipt and his name and contact information. Submit the temporary repair receipts to your insurance company for payment.
Document, Document, and Document
Take pictures of all affected areas. Take video, if you can, of all affected areas. Hold on to any receipts and estimates for repairs. Get the contact information for any contractors that come to your place of business to give you estimates. Do not throw out any correspondence or documents that are sent to you by your insurance company. If you are mailing anything to your insurance company do it by certified mail, return receipt requested, and make copies of whatever you are sending for your records. Keep a journal of all your communications with your insurance company. If you become aware of any witnesses that have knowledge of any aspect of your claim, record their name and contact information. Don't throw out any of the business damaged property items from your business.
Put your insurance company on notice of your business interruption or business property damages. Call your insurance company and let them know what happened. Get the name of the insurance company adjuster assigned to your claim, his or her contact information and the claim number.
Let us use our experience to help you. Even if your insurance claim was closed after a nominal payment you may still be able to pursue your claim - you may be able to reopen an unfair claim years after the loss.