Business interruption claims are insurance claims that businesses in Florida can file when their operations are disrupted due to an unexpected event or natural disaster, such as a hurricane. These claims are designed to help businesses recover lost income and other costs associated with the disruption.

If you’re a business owner in Florida, you can file a business interruption claim after a hurricane as long as you have the appropriate insurance interruption coverage in place. You must file the claim within a certain time frame, typically within one year of the event, and must include detailed documentation of the losses you incurred.

What Is Business Interruption Insurance and What Does It Cover?

Business interruption insurance is a type of insurance that covers the loss of income that a business suffers after an unforeseen disaster, such as a fire or hurricane. It covers the costs associated with the interruption of business operations, including lost profits, fixed costs and extra expenses incurred to keep the business running. It also covers any additional expenses incurred to get the business back up and running.

Having business interruption coverage can help your business stay afloat during difficult times and prevent you from having to close shop permanently.

How to File a Business Interruption Claim in Florida?

In the aftermath of a hurricane, you may be unable to operate your business as usual due to property damage and other losses. This may the right time to file a business interruption claim with your insurance carrier.

Keep in mind, the success of your claim largely depends on you—the business owner. In other words, you’ll be responsible for proving the validity of your claim by providing detailed documentation that proves your losses, such as receipts, invoices and other financial records that show the impact of the interruption on your business. You may also need to provide proof of ownership or lease agreements for any property affected by the interruption.

Once you have gathered all necessary documents, submit them along with a completed claim form to your insurance provider. Be sure to include any additional information that may be required by your policy, such as photographs or other evidence of damage or loss caused by the interruption. You will then have to wait for a response from your insurer. Your insurer will review your claim and determine whether it is covered under your policy and how much compensation you should receive.

Keep in mind, this process can take several weeks or even months before you receive a response or payment from your insurer.

What If My Business Interruption Claim Is Denied or Underpaid?

Although insurance companies exist to help customers financially in times of crisis, their main goal is to maximize their own profits. Insurance adjusters are trained to do this by using a variety of manipulative tactics, such as using confusing language, delaying payment and asking for unnecessary documentation.

If you’re not happy with the outcome of your claim, you can start by negotiating with the insurance adjuster assigned to your case. If you disagree with the amount offered by your insurer, you can negotiate with them for a higher settlement amount. Be sure to provide evidence that supports why you believe you should receive more compensation than what was initially offered by your insurer.

If negotiations prove fruitless, consider reaching out to an experienced commercial property insurance attorney who can review the denial or underpayment and advise you on your legal options. Depending on the circumstances, you may be able to appeal the denial or file a lawsuit against the insurance company. An attorney can help you understand your rights and determine the best course of action for your situation.

Kanner & Pintaluga Can Help You with Your Florida Business Interruption Claim

If your business has suffered hurricane damage resulting in an interruption and loss of revenue, contact Kanner & Pintaluga today to learn how we can advocate for the compensation you deserve. Our experienced attorneys will negotiate with the insurance company on your behalf and strive to increase your chances of receiving a fair settlement.

Call 800.586.5555 to get a free case evaluation.