Benefits That Might Be Available to You
What Can Business Interruption Insurance Coverage Provide?
- Income your business likely would have earned during the interruption had it been able to stay open.
- Wages owed to your employees throughout the interruption.
- Rent owed to your commercial landlord throughout the lockdown.
- Expenses related to converting your business to a remote service operation, such as switching to selling products strictly online.
You might even be able to collect damages for the restoration of your property. The coronavirus might not physically damage your business, but its high threat of infection will require you to thoroughly sanitize and decontaminate your business when quarantine orders are listed. Cleaning all surfaces costs time and money, so it might be covered through your policy.
Insurance Companies Avoid Mass Payouts
Most businesses reasonably expect their insurance providers will evaluate their claims and provide owed coverage when the claim is valid. Why would your insurance provider want to deny, delay, or undervalue your claim if it is not justified? The answer lies in the fact that the coronavirus is essentially a natural disaster in that it has affected countless people in only a few short months.
When you need to file your business interruption insurance claim, there might be dozens or hundreds of other businesses in Troy doing the exact same thing. Faced with so many legitimate policies at once, all requiring payouts, dishonest insurance companies may resort to illegitimate methods to save their own bottom line.
Ensure Your Claim Stands Out & Stands a Chance
With so many business interruption claims being filed practically at once, it is crucial that your claim is made correctly so it does not get delayed or lost in the shuffle. Work with Oliver Law Group P.C. and our Troy business interruption attorneys to confidently create and file a claim if your business has been halted due to the coronavirus. In case you have already filed a claim and it was denied, we can help you challenge the denial, too. We are here to provide legal guidance and moral support when you need it more than ever before.
We would love to talk to you about your next step. Contact our firm now.