Business Interruption insurance claims are complex.
A maximum settlement amount is earned by making a strong case based on logic, law, and facts.
We represent you and protect your interests by helping property owners that have suffered losses due to storm damage. We focus on companies and groups in Texas and business interruption management.
Our team of professionals will be with you every step of the way.
There is nothing quite as challenging as business interruption claims, especially after the fact when it comes to totaling and proving what you lost and calculating “replacement value.
Since it is typically tied to a business that suffers a physical loss (a building or buildings), a business owner must determine the dollar amount of earnings and continuing expenses that would otherwise have been incurred.
Business interruption coverage comes in many forms and can be tailored by the agent/broker to the circumstances and needs of the client.
To determine what the business would have earned had the loss not occurred, it is necessary to evaluate both the past and future.
A common misconception about business interruption policies is that they will cover the whole loss an insured sustains following a covered loss.
Generally, B.I. policies will only pay for the loss incurred while repairing or replacing the physical damage at the insured property.
As an example: a warehouse suffers a fire loss.
Based on due diligence and dispatch, labor and material costs, and market conditions, we estimate it will take eight months to repair the damage. The insurance company may offer the business interruption benefit for this time period.
These companies may lose customers that they will not be able to bring back, or, if they can, it may take more than the normal time to physically rebuild the business back to pre-loss profitability.
In addition, losses of personal property are typically not covered unless the insured purchases additional coverage.
Despite past sales being known, future sales will always be uncertain. Trends in sales need to be determined, and if positive, they should be added to past sales to determine what sales should have been if the loss did not occur.
It has often been a point of contention how many years to use for the trend line to apply to the last known sales prior to a loss. A positive sales trend line can greatly impact an insurance claim.
In our experience, there are no hard and fast rules on this matter.
We have used a period of time as far back as 5 years to establish if a positive trend can be established for our clients.
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How We Help Commercial Property Owners With Their Business Interruption Insurance Claims
Just as you wouldn’t take your case to court without a lawyer, neither should you process your claim without a public adjuster.
We have experience modifying business insurance policies and we know they can have many limitations and exclusions that aren’t always apparent beforehand.
Because business interruption claims are complicated, business owners sometimes fail to receive everything they are entitled to.
It is unlikely that your insurance company will have your business’s best interests in mind. Public adjusters, on the other hand, seek to obtain the best return for policyholders throughout the claims process. We conduct valuations, compile claims documents and expert reports, communicate with your insurance company, and negotiate fair and advantageous settlements.
Our seasoned adjusters are ready to assist you in settling your business interruption claim so you can continue growing the business.
Don’t let a natural disaster de-rail your Company; manage your business interruption claim the right way.
We promise a 2 hour turn-around time for urgent cases that demand immediate attention.