We Support Our Small Businesses
Unprecedented times call for protective measures, and COVID-19 is no exception. Thousands of businesses, big and small, are suffering immeasurable losses due to the national health orders to stay at home. While these orders are lowering the public’s risk of contracting the coronavirus, they are increasing the risk of businesses losing… business.
To combat this, business interruption coverage is a possible insurance option that can ease these financial burdens. But, it doesn’t necessarily outline global health pandemics. Here are some fast facts:
- Business interruption insurance compensates you for lost income if your company must vacate the premises due to disaster-related damage that is covered under your property insurance policy, such as a fire.
- It covers the revenue you would have earned, based on your financial records, had the disaster not occurred. The policy also covers operating expenses that continue even though business activities have come to a temporary halt.
- It’s important to ensure the policy limits are enough to cover your company for more than a few days. After a major disaster, it can take more time than many people anticipate to get their business back on track. There is generally a 48-hour waiting period before business interruption coverage kicks in.
- The price of the policy is related to the risk of a fire or other disaster damaging your premises.
Examples of other business interruption expenses covered under this insurance plan include:
- Rent or lease payments
- Relocation costs
- Employee wages
- Taxes
- Loan payments
It does not cover:
- Property damage
- Extra expenses
- Contingent business interruptions
- Losses unrelated to property insurance
Obstacles to Business Interruption Insurance
The problem that many people are facing is that this coverage type is granted to properties suffering physical damage or loss. It doesn’t mention global health pandemics, specifically COVID-19, which is creating anger and confusion among business owners who feel like they have no other option. Business interruption insurance does not technically cover losses due to government mandates, market shutdowns or a fear of contracting the coronavirus. However, insurance companies could not predict COVID-19 when creating this policy, therefore we are confident in our ability to fight your insurance company for the coverage you deserve.
Exclusions Will Not Stop Us
Some of our lawyers have worked for large national insurance companies in the past, so our team has key insider knowledge about what it takes to fight for you. Despite the do’s and don’ts of business interruption insurance, we believe that there is still a way to argue for coverage under COVID-19. Just because this specific pandemic is not spelled out in the insurance policy does not mean that you have zero chance of getting paid. Our attorney will work carefully to build a strong case fueled by skilled arguments for a better chance of receiving your rightful coverage.
Contact Zendeh Del & Associates, PLLC for a Free Policy Review!
It may seem tough to prove that your business suffered physical losses or damages in this public health crisis, but our committed lawyers will work tirelessly to build an aggressive, strategic case that represents your best interests. We can attempt to inspect your business property for COVID-19 or prove the likelihood that your property poses a high-contamination risk.
Your business matters not only to your livelihood, your community, and the economy, but to us too. We will do everything we possibly can to support your efforts to stay afloat during this complex time. Small businesses have served us personally, so now it’s time to allow us to serve you. You can count on us to explore every avenue needed to pursue justice for your business.
Call our experienced team at (409) 204-5566 today! We look forward to fighting for you.