Standing Up For You In Business Interruption Coverage Disputes
Business interruption insurance can help steady your company when sudden disasters disrupt your operations. Unfortunately, insurance companies sometimes offer far less for claims than their policies promise. Having trusted business interruption coverage lawyers on your side can make a big difference when claims disputes arise. Our highly experienced California insurance law team at the Lesser Law Group advocates for businesses throughout the Bay Area and Northern Central Valley. Let us protect your business’s best interests in your business interruption coverage dispute.
The Basics Of Business Interruption Insurance
Business interruption insurance is sometimes included as part of a company’s commercial property policy. Unlike the general provisions of such a policy, which cover physical damage to your business’s property, business interruption coverage focuses on compensating you for the related financial impacts and operational disruptions such damage can have for your business. Our lawyers can help you pursue effective solutions when disputes arise regarding such coverage.
When Can You Get Benefits?
When you have business interruption coverage, you generally can receive benefits under it after your property is damaged by a covered event. There is often a short waiting period before benefits begin. What specific events are eligible depends on your business insurance policy. Events commonly covered include:
- Certain natural disasters, such as wildfires
- Storms
- Vandalism
Our team can assist you if you and your insurer disagree about whether a qualifying event has occurred.
What Is Included In Business Interruption Coverage?
Business interruption policies offer a variety of benefits. They generally fall into three categories:
- Business income: This includes compensation for the income your business lost due to the disruption. It also includes coverage of normal operating expenses.
- Extra expenses: This is compensation for extra costs you took on because of the disruption to your business. Examples include expenses for renting temporary space or equipment.
This is just a general guide. What specific benefits you could pursue depends on your policy. Our firm can guide you on what you can include in your claim and advocate for your rights should your insurer dispute any of your losses or expenses.
How Long Do Benefits Last?
Business interruption benefits are temporary. Their aim is to support your business until property repairs are complete. Your policy sets the specific time limits for receiving benefits. If you believe your insurer is prematurely cutting off your benefits, our lawyers can help you contest this decision.
What Evidence Can Support A Business Interruption Claim?
Evidence that can prove helpful in strengthening a claim for business interruption benefits includes:
- Financial records to demonstrate lost income
- Receipts for extra expenses
- Documentation of the event that disrupted your business
Our team can assist with all aspects of gathering and presenting such evidence.
What If Your Insurance Claim Is Denied?
If you receive a claim denial, it’s crucial to understand the reason for the denial. This can help you determine if you have grounds to challenge it. If valid grounds exist, you can start the appeals process. If you suspect your insurer is acting improperly, a bad faith insurance claim may also be an option. Our firm can guide you through these processes and fight to get your denial reversed.
Contact Our Business Interruption Claim Attorneys Today
Don’t let business interruption disputes keep your business from bouncing back. Let us pursue the full financial compensation you deserve under your policy. To schedule a confidential consultation, contact us online or call our San Francisco office at 415-460-7754 or our Sacramento office at 916-964-5596.