Texas Business Interruption Claims Attorneys
Safeguarding Your Future After Disaster Strikes
The purpose of business insurance is to protect against catastrophic loss due to unforeseen interruptions from severe disasters, including pandemics like COVID-19. If you own a business, chances are you have a policy that provides business interruption coverage to help you survive after a disaster or during challenging times. However, it is often challenging to access business interruption coverage. Different policies provide different levels of coverage, and many insurance companies often deny coverage to businesses if they feel their unique situation doesn’t fall under their policy. If your business has been affected by disaster and you need relief fast, don’t hesitate to reach out to our Texas business interruption claims attorneys at Glen Larson Law.
Contact us online or at (512) 553-4994 today to begin your recovery after a disaster or pandemic. We have years of experience going up against insurance companies and can help you.
Also Handling COVID-19 Interruptions
Our team has demonstrated experience helping businesses recover damages after loss and can stand up to insurance companies who attempt to deny you coverage.
In addition to helping businesses recover from disasters, we can also help you if your business has been impacted by COVID-19. The global pandemic has impacted virtually every industry, including businesses, and many have had to close to comply with local orders if they are not considered essential. We can help you calculate your losses, from revenue to loan bills, and can pursue the coverage you need to outlast these difficult economic times.
Call our team at (512) 553-4994 today if your business has been negatively affected by the global pandemic.
What is Business Interruption Coverage?
Business interruption policies compensate insured policyholders when their business operations are interrupted due to circumstances beyond their control, which mostly applies to disasters, though policies can vary in determining what counts as a legitimate interruption.
Business interruption insurance is separate from property insurance, though some property insurance policies offer business interruption as an add-on.
Business interruption often helps businesses who have experienced losses after the following catastrophic events:
- Pandemics, including COVID-19
- Building collapse
- Other events that cause physical damage to the property
Call (512) 553-4994 today to have our attorneys assess which catastrophic events your policy covers and whether you can successfully file a claim.
However, it can be challenging to obtain business interruption coverage for other kinds of non-physical damages, such as in the case of a pandemic. While pandemics cause losses by keeping customers away and interrupting supply chains, some insurance companies may argue that they don’t cause damage to business properties. This is why you need to hire an attorney who can communicate with insurance companies and defend your rights.
What Does Business Interruption Insurance Cover?
There are various kinds of losses businesses can experience after a disaster, and business interruption coverage can cover most, if not all, of them depending on which policy you have. One of our attorneys can take a look at your existing policy to determine just how much you may be able to recover and ensure your insurance company doesn’t give you any less than what you deserve.
Business interruption policies can generally reimburse you for the following:
- Lost revenue: If your business isn’t making sales or is unable to serve customers during or after a disaster, insurance can compensate you for lost revenue. If you have to shut down, this coverage can make sure the closing is temporary and not permanent.
- Taxes: Coverage can pay for your quarterly or annual tax payments if you don’t have the revenue needed to pay for them.
- Employee wages: Insurance policies often cover the cost of your payroll so you are able to retain and pay your workers. Many policies cover the cost of payments to employees for up to a year.
- Relocation costs: After a disaster, it’s common for businesses to be forced to relocate. Insurance can cover the costs of moving and rent at your new location.
- Loan payments: Even when businesses are closed, they’re still required to make loan payments. Business interruption coverage can pay your loans.
- Rent or lease payments: Insurance can cover the costs of your rent or lease while you’re not making any money.
Additionally, some business interruption policies offer insurance that covers losses relating specifically to losing suppliers or customers. Some will even cover situations where access to businesses is prohibited as a result of government action or civil authority. This can apply to COVID-19-related cases in which local governments have ordered business closures and issued stay-at-home orders.
Handling Bad Faith Denials
It is well-known among some policyholders and within the legal profession that insurance companies often deny claims as a way to save money, even when policyholders have a right to securing compensation. Some insurance companies will also attempt to undermine claims by disputing the amount of income your business has lost to avoid paying you what you deserve. This is known as operating in bad faith, and our attorneys are able to help you to ensure you don’t miss your opportunity to be reimbursed because of a bad faith denial.
We also help those who have had their COVID-19-related claims denied under the argument that the virus itself hasn’t caused physical damage to businesses. Just because your claim has been denied doesn’t mean that you don’t have options.
How Our Team Can Help
Determining the best way to save your business after loss can be stressful and risky if done on your own. An attorney with demonstrated experience in understanding insurance policies can help you understand the limits of your existing policy and can stand up for you if your insurance company attempts to deny you coverage.
We can provide the following services:
- Review your existing insurance policy
- Handle all correspondence with insurance adjusters on your behalf
- Negotiate settlements with insurance companies that are fair and beneficial to you and your business
- File a claim if your insurance company denies or attempts to devalue your claim
Having handled thousands of cases and with years of litigation experience, we can be depended on to fight for you and the results you need to protect yourself and your business.
Call our business interruption claims attorneys in Texas at (512) 553-4994 today. Your first step towards recovering your losses begins by calling us and scheduling a consultation so we can learn more about how we can help.