With the recent heat waves throughout the country, people are cranking up their air conditioners in an attempt to find some relief. Unfortunately, this can put excessive demand on power grids and cause a widespread power loss that inconveniences a whole city full of people. This is a huge frustration for everyone affected, but it can also be a big deal for people who own businesses. Without power, most businesses are not able to operate and lose money because they can't open.
One of the most important forms of insurance business owners can obtain to protect themselves during a blackout is business interruption coverage. This insurance will cover you if you are not able to run your business because of something like a blackout. Unfortunately, not all business interruption coverage is created equal, which means it is essential that when you purchase it, you know exactly what you're getting. Sometimes, a business owner that loses money during a blackout will file a claim and that claim will be denied. Why? It could be for any number of reasons. Some of the more common excuses are that the actual source of the power outage was not on the premises, or that although there was a power outage there was no physical damage done to the store. Some insurance companies will only pay if the business lost power for a certain amount of time, like 24 hours. Unfortunately, it only takes a few hours for some businesses to lose a substantial amount of money, for example, a popular Dallas nightclub that loses power between 9pm and 3am on a normally busy Saturday night.
If you are a business owner that had your business interruption insurance claim denied, you can fight it. Contact the commercial insurance claim attorneys at The Voss Law Firm today for a free consultation at 888-614-7730.
