When owning a business or commercial interest in Florida, business interruption insurance may be one of the most important purchases that you can make. If you have business interruption insurance, and you suffer from a significant interruption of your business operations—say, for instance because of an oil spill or a hurricane—you may be compensated for your losses in a business interruption claim.
Filing a Business Interruption Claim in Florida
You may suffer from an interruption of your business in Florida because of circumstances such as vandalism, theft, a hurricane, environmental disaster or a flood. Other factors such as lightning, mold, water damage, or a sinkhole may also cause an interruption of your business.
In a business interruption claim in Florida, you may be compensated for income lost during the interruption of your business operations. This includes the time that it takes to repair or restore damage to your business property.
Some tips for filing a business interruption claim in Florida include:
- Gather evidence of your losses – you can do this by taking photographs of the damages that you have suffered and collecting any records that may support your claim. This includes financial statements and receipts for any property that was stolen or damaged. During their investigation of your claim, an insurance adjuster will likely request a substantial amount of documentation. A Florida commercial insurance attorney can help you to gather the necessary evidence.
- Be honest with your insurer – when questioned by an insurance adjuster, don’t misrepresent any information in your business interruption claim. If you lie about the damages you have suffered, or misrepresent your business interruption claim in Florida in any way, your claim may be denied altogether. You should also keep your insurer informed of the actions you will take, such as hiring a contractor to do repairs. By being open and honest with your insurer, you can avoid controversies, and support the efforts to have your claim settled as quickly as possible.
- Establish a single point of contact – correspondence between you and your insurer should be conducted by a single representative of the insurer. This will prevent you from having to communicate between several points of contact. Therefore, if the insurer has an accountant or other representative meet with someone from your company, make sure that the single representative is also aware of the communication.
- Communicate in writing – in order to avoid discrepancies or disputes, you should communicate with your insurer in writing. Therefore, request that any information from your insurer is provided to you in writing. This especially includes the insurer’s analysis of your business interruption claim, so that you and your team can evaluate and understand their approach. This will be helpful when negotiating your business interruption claim.
Getting the Help of a Florida Commercial Insurance Attorney
Before filing your business interruption claim in Florida, it is best to consult a Florida commercial insurance attorney. In this type of claim, a Florida commercial insurance attorney may:
- give you an independent estimate of the value of your damages;
- help you to avoid making some of the common mistakes associated with filing a business interruption claim; and
- negotiate a settlement with your insurer.
If you cannot reach an acceptable settlement in your business interruption claim, or if your claim is denied, you may choose to pursue damages in a formal court of law. In a lawsuit, your Florida commercial insurance attorney will have to show that you have suffered damages due to business interruption, as well as show the value of the damages that you have suffered.
Contacting a Florida Commercial Insurance Attorney
The Florida commercial insurance attorney team at Falk & Falk Law Firm knows how important it is to you and your company to get the settlement you need in order to move on with your lives. Our Florida commercial insurance attorney team has experience in helping victims of natural disasters—and other business owners’ nightmares—recover from their loss. An experienced attorney can help you to fight for the compensation that you need and navigate the tricky world of business and hurricane insurance. Contact us today – 305-742-0878.