Five Things You Need to Know About Business Interruption Claims

The attorneys at Lerner and Rowe Business Claims have decades of experience taking on insurance companies big and small who deny or underpay insurance claims. 

If you’re considering filing a business interruption claim with your insurance or your claim has already been denied, check out these crucial facts you should know about business interruption coverage. 

business interruption coverage

#1: Insurance Companies Will Do Everything Possible To Deny Your Claim

As a business owner, you made the prudent decision to invest in business interruption insurance. You paid your premiums on time every month and when the COVID-19 pandemic began shuttering businesses you thought you were covered just like you might be for a fire, hurricane or flood.

Unfortunately, many small business owners are finding this is not the case, thanks to fine print exclusions in their insurance policies. Those who file a claim will quickly learn that for as much money as you give to big insurance companies, they will do everything possible to deny your rightful claim. 

#2: Most Business Interruption Coverage Has a Physical Loss Requirement

Many insurance companies will try to deny your business interruption claim based on a physical loss requirement. This refers to physical damage to the premises of your business due to named perils or triggering events like those mentioned above.

Unlike many other natural disasters, the COVID-19 pandemic has primarily affected business owners in the form of government mandated shutdowns of non-essential businesses and stay-at-home orders, which can greatly hurt profits and the ability to pay your employees.

Although your business may not be physically damaged in the traditional sense of the word, Lerner and Rowe Business Claims will navigate the nuances of business insurance law to your benefit. 

Exceptions to exclusions—like a customer, vendor, or employee who was diagnosed with COVID-19 after visiting your business—can help support your claim or reverse a previous denial of coverage. 

#3: A Comprehensive Policy Review Can Make All the Difference in Your Claim

business interruption coverage

Business interruption policies are very complex contracts designed to benefit the insurance company. In order to determine whether or not you have a case, you must thoroughly review your policy. Sometimes these insurance policies are full of loopholes hidden in thousands of pages the untrained eye won’t fully understand.

That’s why any potential business interruption claim requires a comprehensive policy review by a legal professional. At Lerner and Rowe Business Claims, we’ll do this for you at no cost. We will even obtain access to a certified copy of your insurance policy—something most business owners don’t have. 

Our legal team will tirelessly look for exceptions to common exclusions that make business owners ineligible for insurance claim payouts. If we determine that your claim is valid, we’ll also establish solid proof of the damages you have suffered by assessing the profitability of your business before and after the coronavirus pandemic began.

Our insurance policy review is offered free to small business owners. In addition, we won’t bill you until we’ve made a recovery on your behalf. Eligible businesses include, but are not limited to restaurants, hotels, personal service businesses, multi-family apartments, townhomes, and retail stores.

#4: If You Don’t Get Paid, We Don’t Get Paid

At Lerner and Rowe Business Claims, the call and the advice is free and we do NOT charge you a dollar unless we collect money for you.  We handle your business interruption claim on a contingency fee basis and you never have to worry about how much time we spend or sky high legal bills because if you don’t get paid, we don’t get paid!

#5: A Business Interruption Claim Lawyer Can Help

Ready to file your claim? Contact us today by calling 833-MY-CLAIM, or by submitting the details of your case using our secure contact form. If you have additional questions, feel free to speak with a representative using our convenient LiveChat feature. For more information about filing a business interruption claim, please visit our Frequently Asked Questions page.