In fact, the U.S. Department of Labor estimates that about 40 percent of businesses do not survive disasters. This means that these businesses never reopen after experiencing such damage and destruction. Additionally, the statistics indicate that about 25 percent of businesses that survive lose their market and shut down two years later.
Sometimes restoration work can take months after a disaster. When this happens, a business may need to move to a temporary location, which can costs a large amount of money. Because you can’t plan for everything, it is wise to get business interruption insurance and extra expense coverage to help protect your business from risks that are typically not covered under general insurance.
This type of insurance will help you get reimbursed if you cannot conduct business as usual due to a disaster. In order to prepare your business to bounce back after a disaster and NOT become part of the 40 percent, you need to understand business interruption claims and make sure you have a disaster response plan in place.
Contact a skilled commercial insurance litigation lawyer in Texas to assist you in making sure your business has the proper elements in place in case of a disaster like the recent devastating line of tornados that destroyed parts of the Midwest and Southeast in early March 2012. Please don’t hesitate to call after a disaster if you need help pursuing your commercial insurance claim. You can reach The Voss Law Firm toll-free at 888-614-7730 to receive a free legal consultation today.
The Voss Law Firm, P.C. represents clients on a local, national and international basis. We proudly serve companies and individuals along the Gulf Coast and around the globe on a contingency fee basis. Our law firm collects nothing unless we recover on our client's behalf.