Any time your business has to stop operating because of a natural disaster, it means that you won’t be bringing in the profits that you normally do. This interruption should be covered by your insurance policy if you have business interruption coverage as a part of it.
When an insurance company tries to avoid paying out the benefits that you are entitled to based on the policy and premiums you paid, it puts you in a difficult position. As a business owner, you may need that money as a lifeline to get your business up and running again. Without it, your business may end up closing its doors. You could even end up in bankruptcy.
What can you do if your business interruption claim is denied?
If your business interruption claim is denied, then it is important for you to talk to your attorney about appealing that decision as soon as you can. As you are aware, your business may have a finite amount of time before you can’t afford to keep it open without the support that you were supposed to receive. Whether you shut down for a few days, weeks or months, the policy should be paying out as it was presented to you that it would.
Your property insurance may help cover damage to your business from hurricanes or floods, but without the additional income support, you may still end up finding it hard to make ends meet. The insurance company might argue that the natural disaster or weather event wasn’t severe enough to warrant a payout, but that’s an argument that isn’t always fair. Your attorney will focus on countering that argument by building up a strong case showing the details of the damage that occurred as well as pointing out policy details that allow you to make a claim under these circumstances.
Fight for the benefits that you deserve. Since you pay for this coverage, you shouldn’t have to worry about whether the insurance company will pay or not. This is a policy that you chose and one that should pay out when your business is in trouble. Your attorney will go over this with you and help you make a claim, appeal or take this case to court.