Houston Business Interruption Claims

CALL (800) 863-5312 TO SPEAK WITH A HOUSTON BUSINESS INTERRUPTION INSURANCE LAWYER FOR FREE

We are currently living in extremely unprecedented and uncertain times.  The recent COVID-19 pandemic has created extreme hardship for individuals, families, and businesses.  Businesses all across the country have felt the effects of the pandemic by either having to alter their day-to-day operations or halt them altogether.  This is especially true for the residents and business owners of Houston.  The current circumstances of our world were unforeseen and, more importantly, unprepared for, which has created unique difficulties for businesses, their employees, and their customers.  Many business owners have business interruption insurance coverage, sometimes without even knowing it.  Business interruption insurance (BII) is designed for the exact situation so many businesses find themselves in currently.

Our Houston attorneys at Zinda Law Group may be able to help you seek relief in these difficult times.  The last thing a struggling business owner needs right now is to spend time worrying about filing complicated insurance claims when they could be spending time getting their business back on track. 

If you or someone you know is a business owner who has suffered financially from recent unforeseen circumstances, call Zinda Law Group at (800) 863-5312 for a 100% free case evaluation with a Houston business interruption insurance lawyer today.

WHAT IS BUSINESS INTERRUPTION INSURANCE?

In a nutshell, business interruption insurance helps to cover a business’s lost income after some type of emergency.  This type of insurance comes packaged as part of a comprehensive insurance policy or is added into property or casualty coverage.  BII typically covers a business owner through the emergency period and until the business has been restored to its original state before the emergency began.

Business interruption insurance will usually cover the following in case of an emergency or other catastrophic event:

Expected Profits

Many policies will reimburse the profits you would have earned had the emergency event never happened.

Staff and Employee Wages

If wages are deemed essential, BI coverage may help you pay employees so that you can retain your staff while dealing with a crisis.

Taxes

Even when your business isn’t operating, you still need to pay taxes you would normally owe.  BII may help you cover these costs.

Loans

Loan payments don’t stop just because your business has.  BII may cover any loan payments.

Training Costs and Commissions

With unexpected circumstances often come new procedures.  If you have had to retrain staff to adapt to new conditions, then BI coverage may be able to help subsidize those costs.

Relocation Expenses

If you have had to move spaces or relocate staff during an emergency, insurance may be able to help you with this as well.

Fixed Costs

Fixed costs, also known as overhead costs, include costs that must be paid even if you are temporarily out of business, such as rent or mortgage payments, other rented property, utilities, or insurance premiums.

Other Expenses

This could be any other financial loss that your business incurred as the result of an emergency or disaster.

COVID-19 BUSINESS INTERRUPTION CLAIMS IN HOUSTON

Houston, like other major cities, has been greatly affected by COVID-19.  Houston has seen restaurant closures, the shutdown of major events, and major blows to the local tourism industry.  Thankfully, there may be some avenue for relief if your business has been affected.  What BII covers will differ from policy to policy.  The current COVID-19 pandemic has created unique coverage issues when it comes to BII.  Therefore, it is important to contact your insurance provider as soon as possible to determine if your policy could potentially cover your COVID-19-related losses.

If your policy provides you coverage under these circumstances, you may be eligible to receive compensation for net income, continuing expenses, and even additional expenses.  However, it is important to know the language of your specific policy to determine your rights to recover any compensation.  Due to the unforeseen nature of the COVID-19 pandemic, many insurers may try to deny claims to mitigate their own costs.  Thankfully, many states are pushing back and trying to pass legislation that forces insurance carriers to cover losses during this time.  It is important to act now to speak with an attorney and see what you may be entitled to.

FILING A CLAIM FOR BUSINESS INTERRUPTION COVERAGE

Filing a BII claim may seem daunting, but having an experienced attorney by your side may help lift the burden.  To file a BII claim, please consider the following steps:

1. Read and Review Your Policy

The first and most important step is to make sure that you are covered.  The circumstances of your unique situation may affect your ability to receive coverage.  This is especially true if you are attempting to file a claim due to the novel coronavirus.

2. Contact your Insurance Company

Always promptly reach out to your insurance company to see what they can do to assist you with your claim.

3. Get Organized

Successful insurance claims are all about documentation.  Keep detailed records, take photos if there has been damage, and get important financial documents in order.  Gather your most recent income reports, expense reports, and employee information.  Although it may be tedious, being organized in your recordkeeping may make all the difference.

4. Contact an Attorney

Insurance companies can be difficult to deal with and may try to do everything in their power to deny you coverage for your financial or property loss.  This is especially true due to the spike in instances of business interruption. It is important to ensure that you and your business are protected. Thus, the best thing you can do is get an experienced attorney on your side to be able to help you file a claim.  Our attorneys at Zinda Law Group may be able to help.

DO I NEED A LAWYER TO FILE A BUSINESS INTERRUPTION CLAIM?

While it isn’t imperative that you have a lawyer to file a business interruption claim, having a lawyer is extremely helpful if your business needs to file a claim.  Given the current climate for businesses and their owners, insurance companies may be scrambling to seek early concessions from their policyholders that may end up affecting your ability to receive coverage for COVID-related losses.

Having an attorney on your side that has experience dealing with Houston business interruption insurance can make a world of difference in your ability to seek maximum coverage for your losses.

Learn More: Why Hiring a Lawyer Will Help Your Case

HOW ZINDA LAW GROUP HANDLES FIRST-PARTY INSURANCE DISPUTES

When you purchase an insurance policy, you are creating a contract between yourself and the insurer.  As the insured party, you are known as the “first party”.  A first-party insurance dispute is where there is a dispute between the insurance company and the policy purchaser.  Insurance companies have an obligation to work with you in good faith, and when they fail to meet this obligation, a policyholder may be able to file a claim against the insurance provider for their poor conduct.

Although a lot of insurance companies are fair and honest, others are not.  Some companies will unjustly delay or even completely deny coverage despite evidence to support your claim.  At Zinda Law Group, our experienced attorneys may be able to help you build a strong claim with the necessary evidence required for the insurer to fairly evaluate your claim.  Our attorneys may be able to reach out to your insurance company and try to resolve your dispute.

Learn More:  Bad Faith Insurance Lawyers

ZINDA LAW GROUP’S HOUSTON ATTORNEYS MAY HELP YOU AND YOUR BUSINESS

If your business has been affected by the recent COVID-19 pandemic, then you may be eligible to file a business interruption claim.  However, insurance companies may make it difficult for you to do so.  Zinda Law Group may be able to help you seek compensation for your loss.

At Zinda Law Group, we believe everyone should have access to quality representation.  Our attorneys work on a contingency fee basis, which means that you don’t owe us anything unless we win your case.  Additionally, you can give our office a call at (800) 863-5312 to speak with a Houston business interruption insurance attorney for a free case evaluation.  Someone will be happy to speak with you to discuss your situation and see if we may be able to help you seek the maximum coverage you may be entitled to for your loss.

Meetings with attorneys by appointment only.