Have You Suffered from a Business Loss? We’ll Get You Back Up and Running.
When disaster strikes in the workplace, it can cause more than a bump in your workflow. Destruction of business property may set your profitability back – or worse, cease all business activity.
A Business Owner’s Policy typically covers losses from physical damage, such as office equipment destroyed in a flood, building damage caused by a fire, or property damage caused by a storm. With commercial property insurance, you can recoup your property losses. But how do you recover when your business can’t operate because of property damage?
The answer is Business Interruption Insurance! Business Interruption Insurance (also called Business Income and Extra Expense Insurance) is part of a Business Owner’s Policy (BOP) and covers lost income if you need to temporarily close your business due to events beyond your control. Typically, a Business Interruption Policy can provide coverage for:
- Rent or lease payments
- Employee wages
- Loan payments
- Losses caused by damage that prevents access to a building
Appropriate coverage is key to protecting your assets, but even more important is an understanding of the policy. Insurance policy language can be complex. In the example of business interruption, policyholders must be wary of tricky terminology within these items: Waiting period, Proof of loss and Unique coverages.
To add to the chaos, insurance companies can often deny claims because of a lack of coverage, e.g., an item is excluded from coverage under the policy. The insurance company may even value your property differently than you do or determine that you didn’t have to cease business operations in your particular situation. These insurance companies realize your vulnerability. Don’t fall blindsided to insurance tactics. United Public Adjusters will be the expert on your side.
A business’s top concern after a disaster is getting through the claim settlement process, which can often be lengthy and intense. Business owners must supply thorough and detailed documentation on the business loss and the resulting expenses – which can be a difficult task to manage alone.
Providers will often scrutinize claims for payment. Insurance policy terms can be confusing. Moreover, you’re facing the stress of getting your business repaired and back up and running.
Don’t settle for solitary suffering. United Public Adjusters knows how to help. Our public adjusters are experts in property damage losses and recovery. We serve the policyholders, not the insurance company. So, you can rest assured that your best interest is always at the forefront of our minds.