Business Interruption Claims

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If your business was interrupted due to unforeseen events, you may be eligible to file a claim. There are three basic types of business interruption claims. The loss of income during repair or restoration of property due to physical damage is considered a business interruption. Business interruption insurance is needed to take advantage of any benefits. Another type of interruption insurance is the extended business interruption. This coverage is usually limited to a certain length of time, while the third type of interruption insurance is the contingent business interruption. This insurance provides against loss of income due to physical damage but not for the damaged property. The first type of insurance is the basic coverage businesses need. The second two are usually add-ons which will extend the interruption coverage.

When an insurance provider does not complete its transaction in good faith it is considered a breach of contract and is considered bad faith insurance. Not only will the insurance company be responsible for its contracts obligations but also for any emotional distress or personal injury.

Insurance companies will want to estimate the costs as low as possible while the insured will want maximum coverage. Often to solve this dispute, a lawyer is needed that specializes in the area of business interruption claims. Businesses will find that this insurance policy is one of their most important documents. Having an attorney to help you resolve any disputes will be to your advantage.

Recent events such as Hurricane Katrina have exposed the fact that destruction of property and goods is not the only havoc natural and manmade disasters can cause. Without customers to supply income, the businesses that fuel our communities can wither up and die. In the aftermath of Hurricane Katrina and Hurricane RIta, many insurance companies refused the requests of their policyholders based on the notion that damage to their businesses and the surrounding area was caused by non-covered situations such as flooding, rather than wind-driven rain, which is normally covered.

Insurance companies write their policies to be as confusing as possible to reduce their financial obligations to their customers. If you believe that your insurance company is denying your valid claim for financial relief, you need to consult our business interruption lawyers immediately. You may be able to take legal action, but if you hesitate the statute of limitations in your state may end your case before it has a chance to begin. Contact us today.


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Business Interruption Claims are complex matters that should be handled by a professional Business Interruption Claim lawyer. We can help you find one in your area - for free!