Business interruption insurance coverage is often viewed as the most difficult coverage to adjust. If you’re a new business owner, you may find it difficult to understand all of the terms and conditions of your business interruption insurance policy. Simply stated, business interruption claims are tied to a loss at a physical location and involve determining a dollar value for the earnings the business did not earn because of the loss.
A business owner’s insurance policy typically covers losses from physical damage, such as office equipment destroyed in a flood; building damage caused by a fire; or property damage caused by a storm. Such incidents are common, and having an insurance for them is essential for any business, no matter how small or large, in order to grow safely.
Many of the incidents covered by business insurance policies can result in large monetary losses and increased expenditures. To determine what the business would have earned had the loss not happened, it’s necessary for the adjuster to examine past business records and consider how future plans and trends might have affected the business. All of these things are important in determining losses.
But the most challenging task for a business is to recover from a period of inactivity because of property damage. That’s what business interruption insurance plans are for. They provide income you might have otherwise lost if you need to temporarily close your business due to events beyond your control.
Professional Public Adjusters
A big part of negotiating a business interruption claim with your insurer involves determining the duration of the interruption period and how long the insurance company will pay the claim. A longer business interruption will require the insurer to pay a larger amount, which is why they will always try to understate your losses. Moreover, several other areas of business interruption claims can be subjective, so it may not be a straightforward discussion with your insurance company. ProFloridian Claims can simplify this discussion. We have a great deal of experience in this field, and we’re sure to reach a settlement you’ll be satisfied with.
Insurance companies look out for their own interests, so you need someone who’s looking out for you. You have every right to fight for a fair deal to recover the loss you have incurred. Our public adjusters successfully negotiated scores of business interruption insurance claims, and they can help you mitigate your losses. You should trust a professional with such claims to minimize the chances of a claim denial. We will evaluate all the variables of your loss and prepare a comprehensive claim to present to your insurance company to help you achieve financial recovery and get back in business. The complexity and difficulty of such claims demand that the filer needs to be incredibly careful and cautious throughout the process.
Aiming For The Best Outcome
A common misconception about business interruption coverage is that the coverage will cover the full loss the policyholder has sustained. This is not always the case. Most basic claims will only pay for the losses incurred over the time it takes to repair the physical damage at the affected property. Unfortunately, businesses who suffer physical damage often lose customers who may never come back, and if they do, bringing sales back up to previous levels will take more than the time required to physically rebuild the business. This loss of sales will not be covered by your insurance company unless you buy extra coverage. This is another reason why you need someone like ProFloridian Claims, who can interpret the tiniest details of your insurance policy.
Trust Us With Your Claims
An experienced public adjuster will help prepare your claim documents and negotiate and manage the claim from beginning to end. They’ll take care of everything, so you won’t have to worry about constantly dealing your insurance company.
Public adjusters have the necessary expertise and experience to guide business owners through this arduous process. Contact us and let us help you get you your business back on track as soon as possible. ProFloridian Claims will eliminate the hassle and stress of your claim. While we evaluate, negotiate, and submit the claims for your business interruption, you can focus on rebuilding your business and getting back to normal.