Business Income Loss Insurance
In the meantime, you have to contend with the fact that your business is losing money by not being open. Although your business can survive one or two days of preparing for a storm, it may not survive the long-term damage it incurs from the storm. A hurricane, for instance, can cause irreparable damage to your storefront and keep you out of business indefinitely. That means all of your business income is gone because you cannot reopen your business due to the current condition of your property.
Hopefully, as a business owner in Fort Lauderdale, you have acquired business income loss insurance to prepare for disasters like this. Business income loss insurance is designed to reimburse you for a portion of the business income that you’re not generating because of an unintended disruption in your normal business activities. You are also reimbursed for ongoing expenses related to your business.
Business income loss insurance offers coverage for the following :
- Lost Business Revenue
- Continued Operational Expenses (e.g., rent, power, water, etc.)
- Temporary Relocation and Operational Expenses
Bad weather is the most common reason for a business disruption, but disruptions can also happen because of fire and theft. Check your insurance policy to make sure all of these possible scenarios are covered. The policy will specify how long the compensatory payments will be made to you. Most of these policies will make payments to you for 6 to 12 months. If you purchased the extension option, you may be entitled to payments that last longer than 12 months.
Filing a Claim
After a disaster has struck your business, you should take photographs of the damage. Next, gather all the financial records of your business that show your monthly revenue and expenses. Contact your insurance company and file a business interruption claim to receive compensation for your business income loss.
If they deny your claim or decide to pay you less than your coverage limit, then contact the at Louis Law Group. We’ll review the details of your case and help you seek the compensation you’re entitled to receive from your insurance company.
Insurance companies assume that their policyholders don’t understand the terms of their insurance policies. So, the insurers try to come up with excuses for why they can underpay or deny your claims. But if you have Louis Law Group on your side, they won’t make any excuses – because we know the law better than they do. We’ll make sure that a fair settlement is reached for your business income loss claim.
, call (954) 676-4179 and let us help you get started.
Contact Us Now
FREE CONSULTATION
Fort Lauderdale
Property Claim
Florida Lawyers
Near You
We have recovered over $200,000,000 for our clients.
If you’ve encountered property damage, been in an accident, had a health claim denied, or need assistance with an SSDI claim, you will likely need to deal with an insurance provider. Unfortunately, this can be a drawn-out process, and it’s far too common for valid claims to be unfairly denied. As your trusted insurance attorneys, we don’t simply wait to see how your insurer responds. Instead, we use our knowledge and determination to negotiate directly on your behalf and secure what you may be rightfully owed.
How it Works
No Win, No Fee
We like to simplify our intake process. From submitting your claim to finalizing your case, our streamlined approach ensures a hassle-free experience. Our legal team is dedicated to making this process as efficient and straightforward as possible.
You can expect transparent communication, prompt updates, and a commitment to achieving the best possible outcome for your case.
Free Case EvaluationLet's get in touch
We like to simplify our intake process. From submitting your claim to finalizing your case, our streamlined approach ensures a hassle-free experience. Our legal team is dedicated to making this process as efficient and straightforward as possible.
12 S.E. 7th Street, Suite 805, Fort Lauderdale, FL 33301