Frequently Asked Questions

Business interruption insurance is designed to be there for you when you need it the most.

Especially in times like these, when the COVID-19 pandemic has shuttered businesses across the United States. 

Unfortunately, many policyholders are finding that their so-called total coverage is being denied, or their claims are being put on the backburner by their insurance companies. At Lerner and Rowe Business Claims, we know from over 29 years of experience fighting big insurance companies that these corporations are far more concerned with their shareholders than their customers. As such, we’re prepared to take them on to secure just compensation for the millions of business owners who are struggling during this turbulent time.

Below, our team has compiled some of the answers to the questions we are asked most often about business interruption claims and how to get the money you need. If we are unable to answer your question here, we encourage you to contact us directly to speak with a business interruption claim lawyer.

What is business interruption insurance?

Business interruption insurance is a kind of insurance coverage that financially supports various kinds of businesses following a disaster or other forced closure. It generally includes compensation for lost profits due to closure, ongoing operating costs, and payroll for employees.

Most often, business interruption insurance is used when natural disasters physically threaten the place of business. However, for those with civil authority or egress/ingress coverage, the COVID-19 mandated business shutdowns may qualify policyholders for compensation. This is because although the virus does not physically damage the property, it could be construed as the cause of hazardous premises in cases where employees or customers have contracted the illness.

How do I know if the pandemic is covered under my policy?

Your business interruption policy should specify particular named perils that fall under coverage.

Common named perils include:
– Fire
– Hail
– Earthquakes
– Flooding

Alternatively, you may have all-risks insurance, in which all perils are covered except for any specifically excluded in the policy. Unfortunately in some cases, communicable diseases may be excluded from your policy.

Further, many policies are contingent upon physical damage to your business. Although customers and employees may avoid your business out of fear, a loss may not be covered under your policy unless an employee or customer is confirmed to have contaminated the premises with COVID-19, requiring the closure of the business to decontaminate it.

Having a legal professional thoroughly analyze your policy can help you determine with a high degree of accuracy whether your business may be covered because of COVID-19 shutdowns.

If I sign up for insurance now, will my business be covered?

Unfortunately, those who purchase a business interruption policy after suffering a COVID-19 loss will not be eligible for coverage that includes past losses. That being said, investing in business interruption insurance may be a wise decision in order to protect your business from future losses.

Always review potential policies thoroughly to be sure that you understand the timeline and breadth of your coverage.

What do I need to get started on my business interruption claim?

In order to resolve your claim as quickly and efficiently as possible, you will need to gather the following documentation:

– A copy of your insurance policy or its declarations page
– Tax returns for 2017, 2018, and 2019 if available
– Monthly profit and loss statements from 2017, 2018, and 2019 if available

My claim was already denied by my insurance company. What can I do?

Even if your claim for business interruption coverage has already been denied by your insurance company, you may still be entitled to compensation, and legal recourse is available

Our attorneys are well-versed in insurance bad faith claims. We recognize the deceptive tactics large insurance companies use to delay, deny, and defend unfair settlements. We also know how to navigate the legal system to hold these companies accountable for their egregious actions.

As your legal representative, Lerner and Rowe Business Claims will thoroughly examine the details of your insurance policy and the documentation of your denial in order to provide solid evidence of your right to coverage.

Don’t let yourself be belittled by double-dealing corporations. Get a free consultation to look over the details of your case today.

Why do I need a lawyer to help me file a business interruption claim?

At the end of the day, insurance companies are looking out for their own bottom line—certainly not those of the millions of business owners currently wondering how they’re going to stay afloat during this worldwide crisis and in an economy fraught with uncertainty.

You can bet that, in addition to the many claims these companies have already denied, they’ll deny thousands more by taking advantage of those interpretive fine print details and most people’s lack of familiarity with the court system.

In order to protect your business and your livelihood, you need the best possible representation. In creating their powerhouse nationwide law firm, attorneys Glen Lerner and Kevin Rowe have proven time and time again their dedication to upholding clients’ legal rights and winning the best settlements possible.

Contact our law firm today by calling 833-MY-CLAIM or by sending us the details of your business interruption claim through our secure contact form. Consultations are free, and there’s no fee unless we win your case.

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