Many Pennsylvania businesses were forced to shut down during Sandy due to power outages and flood damages, causing them to suffer substantial business losses. For restaurants, shops, strip malls, and other small businesses damaged by Sandy, many business owners are wondering what to expect during the process of dealing with insurers.
As experienced insurance litigation lawyers, we know firsthand how exhausting the process is for business owners dealing with their commercial insurance claims. Take business interruption insurance, for example. While many small businesses don’t have this coverage, some of those that do still have to fight the insurer to receive adequate compensation for their losses.
Maybe a Pennsylvania business was spared flood damage to the inside of their building, but the streets around them were flooded. Because of this, they had to close due to the flood waters halting business and keeping customers away. Should they submit this claim under flood insurance or business interruption insurance? Or what if a business, like a restaurant or deli, lost power and suffered losses due to spoiled food and lost business? How is that loss claimed?
While it may seem like business interruption insurance should cover such business losses during the time these companies are temporarily shut down, insurers may not feel the same way. Business interruption insurance typically kicks in when there is property damage. This issue may cause many business owners long hours reading their insurance policies and arguing with their insurers to get a resolution that is fair.
If the insurance company is not giving you a fair estimate, if they have denied your claim, of if you would like a professional to handle the negotiations for you, please call the Voss Law Firm. A knowledgeable commercial insurance claim lawyer can help you at 888-614-7730 in a free consultation. Also, be sure to request a free copy of our book Commercial Property Owners Must Read This BEFORE Filing an Insurance Claim.
