There are some situations that are just out of a business owner’s control that can end up with unforeseen closures. Recently, the pandemic was one of the main reasons businesses closed their doors but there are other scenarios that can close doors include natural disasters, fire, or theft.

Many businesses already have this coverage for these types of business interruptions, commonly referred to as business interruption insurance. This insurance may be bundled into many policies of insurance that are held by the business.

With business interruption insurance if your business is closed due to:

1. Your business sustaining direct physical damage or loss that causes you to stop operation.
2. Your business sustaining direct physical damage or loss that prevents customers from being able to enter the premises.
3. A government shutdown prevents both workers and customers from entering the premises.

You might be entitled to compensation for lost income/profits, fixed expenses, ongoing tax burdens, lost rental income, small business loan payments, relocation expenses, or new costs incurred while operating offsite.

A helpful aid in getting full compensation is your business records. Be sure to maintain accurate financial records including prior years’ profits to help determine the amount of coverage. Other important records besides accurate income and profit records can include utility records, photographs, and receipts of extra expenses.

We here at The Law Offices of Bram J. Gechtman, are a law firm in Miami dedicated to working for businesses who face such interruptions due to situations such as the coronavirus, COVID-19, natural disasters, fire, or theft. We have extensive experience dealing with insurance companies every day, and, unlike many of the larger law firms, we do not represent insurance companies – which means we only go after the insurance companies and have experience dealing with insurance company denials and delay tactics.

CALL OUR MIAMI BUSINESS INTERRUPTION INSURANCE LAWYERS TODAY 

If you are not sure if you are covered or eligible to receive compensation for a business interruption insurance-related claim, contact us at the Law Offices of Bram J. Gechtman, where our Florida business interruption claims lawyers fight aggressively to protect the rights and interests of our clients. If your company is involved in a dispute over business interruption coverage, we are available to help.

Call our office today to schedule a FREE consultation (305) 222-7836