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Bundza & Rodriguez, P.A. Proven Trial Attorneys
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Daytona Beach Business Interruption Insurance Claims Lawyer

Natural disasters like hurricanes, fires or floods can cause a lot more than just property damage. Many times businesses have to be closed for months at a time while repairs to their facilities are being made. Closing for long periods of time can cause financial hardship for businesses and especially small businesses.

While responsible business owners try to prepare for the worst by purchasing business interruption insurance as part of their master insurance policy, insurance companies may still deny those claims. Paying insurance month after month, only to be denied when a business needs it the most can be devastating.

Contact an experienced Daytona Beach property insurance lawyer if you believe your claim has been denied, in bad faith, by your insurance company. Bundza & Rodriguez, P.A. represents clients throughout Florida including Daytona Beach, all of Volusia County, Flagler County and Brevard County.

Business Interruption Insurance for Florida Losses

Business interruption insurance is intended to cover any loss of income due to natural disasters that shut down your business for any period of time. If a business suffers extensive property damage due to an unexpected disaster, it will most surely be shut down for repairs. In that time, a business will lose money because it is inoperable.

The typical property damage insurance may cover the facilities, structures, and inventory damaged by a disaster, but it will not cover the loss of income. Moreover, depending on the circumstances, it can take months, and even years, to repair property damage.

Supplemental business income and company savings may not always be enough. If this happens, having insurance can be critical to a business’s survival.

What is the Effectiveness of Business Interruption Insurance in Daytona Beach

Under the typical business income or business interruption insurance policy, a policyholder can make a claim when a disaster shuts down the physical operations of their business.  The most common situations include the following:

  • the government shuts down the business area due to a disaster, and it prevents customers or employees from being able to access the premises;
  • the physical damage to the business is so extensive that it must halt operations, or
  • the physical damage to the property is a type of loss that is covered by the insurance policy, and the damage prevents customers and employees from being able to enter the premises.

There is often a waiting period before the business will be able to collect insurance and insurance payments generally are not retroactive to the date of the disaster. Insurance may cover expenses, loss of net income, and temporary locations, as long as the expenses were designed to reduce the overall costs and certain ongoing expenses.

Insurance companies may attempt to deny a policyholder’s insurance claim for business interruption insurance for a number of reasons. In the past, insurers have denied policyholders, stating that the business was not sufficiently interrupted to constitute a claim or that a business’s loss of income is due to other factors and not the disaster.

If you are a small business owner, you know that every day counts and maintaining a steady business flow is key to longevity. If your insurance company denies your claim in bad faith, it is crucial that you fight to keep your company afloat. An experienced Daytona Beach insurance attorney can help.

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