Across the country millions of businesses have closed their doors to the public resulting in unprecedented loss. While many business owners are moving to a permanent closure due to these difficult times, it’s important to know there may be another option.
If your business has purchased insurance, specifically “business interruption insurance” you may have coverage specifically for this type of loss. Business interruption insurance is coverage that replaces income lost in the event that business is halted for some reason such as fire or natural disaster.
- Business Interruption and extra expense
- Contingent business income
- Civil authority/denial of access
- Contamination/pollution extensions
This type of insurance may cover operating expenses, payroll, taxes, loan payments, and more depending on the specific policy. It’s important to remember that every insurance policy is different but there is nothing to lose in making a claim.
If you have filed a claim with your business insurance company and have been denied you should seek the help of an experienced firm. Policy language is often ambiguous and can be interpreted differently by the court system. If you have been wrongfully denied coverage you may have an additional claim. If your business is suffering due to COVID19 and you have business interruption insurance contact us today. Consultations are always free.