CALL (800) 863-5312 TO SPEAK WITH A DALLAS BUSINESS INTERRUPTION LAWYER FOR FREE
The COVID-19 pandemic has affected lives all around the world. In the United States, business owners have been hit particularly hard as they have been unable to operate businesses due to the numerous health concerns of doing so. In these trying times, business owners have been filing claims with their insurance company for some relief. Unfortunately, some insurance companies are refusing to provide compensation even though these business owners have a legitimate business interruption claim.
If you or your loved one is a business owner and has filed a business interruption claim with your insurance company, but are having trouble processing the claim, you may wish to speak to a lawyer. Call Zinda Law Group at (800) 863-5312 for a free consultation with one of our Dallas business interruption lawyers.
COVID-19 BUSINESS INTERRUPTION CLAIMS IN DALLAS
COVID-19 has presented unique challenges to thousands of businesses across the nation. Interruptions in supply chains, government health regulations, and many other obstacles arising from COVID-19 have prevented businesses from operating as usual. As a result, businesses are seeking relief from their insurance company.
In general, businesses procure business interruption insurance policies to protect themselves from lost income due to a catastrophic event. Though business interruption insurance claims filed for physical damages due to natural disasters, like hurricanes, are generally fulfilled without too many issues, claims for relief due to COVID-19 have been much more problematic.
In Dallas, as in many other cities in the United States, some insurance companies are refusing to cover business losses due to COVID-19. This is because most business interruption insurance policies do not contemplate pandemics like COVID-19. However, just because your insurance policy does not specifically mention pandemics, you should check to see if your policy nevertheless covers for losses due to something similar to pandemics. Furthermore, even if you do not have a policy that is specifically called “business interruption policy,” you should look to see whether you are covered by another type of insurance policy. Specifically, look to see if your insurance policy provides coverage for losses due to actions by government officials or interruptions of your supply chain. In addition, you may have a business interruption policy as part of an overall policy. For instance, Special Multi-Peril or Business Owners policy often include business interruption coverage.
For a free legal consultation with a business interruption insurance lawyer serving Dallas, call 800-863-5312
WHAT IS BUSINESS INTERRUPTION INSURANCE?
Business interruption insurance (BII) is a specific type of insurance policy that compensates a business’s losses due to a disaster or emergency. You can buy BII to add onto an existing policy or buy it as a comprehensive policy. Generally, a business interruption policy will cover losses that are incurred from the start of the event that halts a business’s operations to when the business recovers.
BII policies often cover the following:
Business Interruption Insurance in Dallas lawyers near me 800-863-5312
Lost revenue is the revenue that the business would have earned had the disaster not occurred.
When a business is unable to proceed with its operations, employees are at risk of termination. Business interruption insurance can provide compensation to business owners so that they can pay their employees.
Complete a Free Case Evaluation form now
Though a business may be unable to operate due to a natural disaster, it is not exempt from paying taxes. Therefore, BII also covers owed taxes so that business can avoid penalties.
Fixed costs are costs that businesses incur on a daily basis. For instance, if your business has to hire a delivery truck as a part of your daily business, you may be covered through BII.
Like taxes, you are not exempt from paying off your loans just because your business has halted.
Training or Equipment
After a disaster, businesses often have to get new equipment and new employees to build their business back up.
BII may also cover for your expenses incurred due to relocating your business temporarily to another location.