COVID-19 Business Interruption Lawyers in Florida
We get it. COVID-19 hasn’t spared most businesses, yours included. You’re probably counting the losses and wondering how you’ll recoup the lost profits and resume operations when things get back to normal. Well, you’re not alone. Thousands of business owners are going through the same, not knowing whether they’ll be back in business. But all is not lost.
You can get compensated for the damages your business has suffered due to the COVID-19 pandemic. But here’s the problem:
Your insurance provider may refuse to honor your claim, giving an excuse that your current plan doesn’t cover business interruption insurance. Of course, this is how insurance firms try to ward off claims that could be payable to various policyholders.
Don’t let a denial letter from your insurance company scare you. At Scott J. Sternberg & Associates, P.A., we can engage your insurance company on your behalf and get you covered under your current policy.
But before discussing how we can help, let’s first look at:
What Is Business Interruption Insurance?
Typically, most business insurance policies capture business interruption insurance. Often, the insured is required to pay an additional premium for their commercial property insurance. Business interruption insurance is not usually offered as a separate policy.
Instead, it may come as an addition to the property policy. It may also be part of the comprehensive policy as “rider” or just an add-on. The coverage comes in handy for companies that close down or face interruptions for various reasons.
How Do I Know if My Florida Insurance Company Offers Business Interruption Coverage?
Business interruption insurance aims at providing financial compensation for policyholders who may be incapable of running a business, usually after experiencing direct physical loss to their business property by a peril, such as water, storm, fire, and more.
While a virus may not be seen to cause physical damage to a building, it may be perceived to pose a danger to business premises where workers and other persons have been confirmed to have the virus. Furthermore, the virus may be viewed to be hazardous to the business if the local government orders the closure of businesses to curb the spread and enhance the safety of those in the area.
Although the policy of your business insurance should mention the specific coverage, your insurer may write the fine print in a language that’s difficult for the layperson to understand. Often, the language used in the policy allows your insurance company to underpay or deny your claim.
At Scott J. Sternberg & Associates, P.A., our business insurance attorneys will review the policy, interpret it accordingly, and protect your rights while seeking to help you recover what you truly deserve. Specifically, our attorneys will discuss your coverage extensively and point out the documentation required to establish an accurate and complete claim.
What If the Insurer Has Already Denied My Business Interruption Insurance Claim?
Like any other insurance coverage, people purchase business interruption policies to protect a company at the most critical time – when the business can’t generate revenue.
If your insurance provider has denied your business interruption claim for any reason, then our experienced Florida business interruption insurance lawyers will review the contents of your policy. The attorneys will also discuss the response from your insurance company to ensure it’s not based on bad faith.
Florida businesses are going through a difficult time. If your insurer has wrongfully denied your business interruption insurance claim, we’ll do our best to hold them responsible and ensure you receive fair compensation for coverage you’ve paid for.
Call the Scott J. Sternberg & Associates, P.A. today at (561) 513-4376, to discuss and review your insurance policy with our skilled business interruption and loss lawyers, to establish if your coverage comprises of losses associated with the COVID-19 pandemic.
What If My Insurance Policy Has a Virus Exclusion Clause?
Most insurance policies have a “virus exclusion” clause, that states that there won’t be any coverage for any loss resulting from a virus.
An insurance firm will possibly contend that this exclusion is a sufficient basis to deny your business interruption insurance claim. But, the virus exclusion clause alone may not be enough reason for rejection.
Other policy terms and facts could validate the coverage. Besides, most virus exclusions are not correctly documented. Courts may establish if there’s ambiguous policy language.
Under those circumstances, the clause is not only invalid but also unenforceable. In other words, the exclusion doesn’t count, and you qualify for coverage, as indicated in your business policy.
While a virus wouldn’t usually be seen as being able to damage property physically, COVID-19 might compromises the business premises, creating a dangerous risk like the overall air quality or contaminated working surfaces. That’s one of the angles our reputed attorneys may use when engaging your insurance company to accept your claim.
Thus, if your policy contains clauses on “virus exclusion” or even “pandemic exclusion,” then you may want to contact one of our experienced attorneys to review the plan and offer solid advice.
Not Filing a Claim Could Cripple You Financially
During these uncertain times, it’s clear that companies are facing massive losses from a viral pandemic that’s hit businesses locally and all over the country. Just a couple of weeks back, these businesses were thriving.
But now, they’ve to stop operations and even lay off workers and figure out ways to pay bills. Our seasoned attorneys understand the suffering of business people, which is why they examine the fine print that may prompt coverage. They’re also exploring excellent ways to make a cause for large, small, and medium-sized organizations at this challenging time.
Insurance should be your safety net, but blatantly denying a claim can be financially debilitating. That’s why it’s crucial for business owners to examine their policies, figure out if they’ve got coverage for business interruption, and write down the impacts.
While the policy may detail specific coverage, it may contain exclusions that’ll dictate whether your claim will be underpaid or denied. These areas may be too complicated for non-lawyers to fathom.
So it’s paramount to have an attorney experienced in business insurance review and evaluate your policy and its endorsements.
Call us today at (561) 513-4376, to assess your insurance contract and establish whether you’ve got a business interruption coverage.