Russell & Hill, PLLC

BUSINESS INTERRUPTION INSURANCE: How it may apply to save your business!

Posted on : July 24, 2023Posted By : Russell HillPosted In : Insurance Claims

The COVID-19 pandemic that brought mandatory shutdowns for businesses was another reminder to have a plan in place for continuing operations. Managed IT for law firms offer “business continuity planning,” which for a law firm like ours is essential to be sure systems are able to continue running during a disaster and that all data an information is backed up securely, offsite.

Similarly, business interruption insurance helps replace lost income when businesses are affected by a covered loss. For example, if a fire destroys your merchandise, or a tree falls on your store, you may have a claim for revenue losses, lease payments, loan payments, taxes, payroll, and relocation costs due to the fire or tree fall. The question many business owners are asking is whether business interruption insurance can help with coronavirus losses. As a business owner, if you’ve had losses due to coronavirus it is best to start by collecting the documentation of your income loss, filing a claim with your insurance company, and finding out if they will accept it or deny your claim. If the insurance company denies your claim and you think there may be coverage, have an attorney take a look at your insurance policy and figure out whether the insurance company is being cheap and trying to get out of it, or whether the policy truly doesn’t cover your income loss. If this coverage applies, it may make the difference for your business in surviving these challenging times.

If you or someone you know has questions about business interruption insurance, our team of experienced and knowledgeable attorneys are ready to work on your case and investigate on your behalf so we can secure the compensation you are entitled to. If you need an Everett insurance claim attorney, you can contact us for a free consultation of your case by clicking here or by calling us at 800-529-0842.

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