A claim you might need to make to your insurance provider is for business interruption. While you can file this claim on your own, it is often considered one of the most difficult claims to settle, so it will be beneficial for you to have a public adjuster representing your best interests and negotiating directly with your insurance provider.
A business interruption claim is usually filed to help the insured compensate for lost income during a time of repairing or restoring damage done to an insured piece of property. For example, if a fire has damaged a commercial property, there could be a business interruption claim filed to help the insured compensate for income lost during the period of restoration.
At OnPoint Adjustments, we will help you determine what type of money your business would have earned had the business interruption not occurred. Business interruption claims can be difficult because the dollar amount will be connected to a loss of an insured location. It is often tricky to determine an accurate dollar amount that a business interruption will cost, and differentiate that between ongoing business costs that are not connected to the business interruption. Documents, such as tax returns and profit and loss statements, will be used to make this determination.
Our skilled public adjusters will examine past business profits, as well as take a look at how the future sales trends looked for your business. Depending on what type of business interruption coverage the insured has, the insured will be covered for the loss incurred during the business’ closed period, and potentially for other factors, such as loss of customers, which can often happen when a business is closed for an extended period of time, or loss of market.
As there is the potential for many points of contention in a business interruption claim, it is very important that you retain a public adjuster to negotiate on your behalf. You will have a much better chance of securing the settlement that you deserve, if you have experts preparing and filing your claim.