As a business owner in Allentown, you surely depend on a number of different insurance types for peace of mind, including property insurance. One type of insurance that you may carry–and which may be especially relevant in the wake of the COVID-19 pandemic–is business interruption insurance. This type of insurance is designed to pay for losses suffered by a business in the event of business interruption caused by an emergency circumstance. If you have questions about business interruption insurance or believe that your claim for coverage has been wrongly denied, our Allentown business interruption claim attorneys at the law office of van der Veen, Hartshorn, & Levin can help. Reach out to us today to learn more.
What’s Covered Under Business Interruption Insurance?
What’s covered under business interruption insurance and when the coverage applies varies on a case-by-case basis; it’s important to read your specific policy. However, in general, business interruption insurance will pay for lost business income and additional extra expenses incurred by a business that result from some sort of peril or emergency, such as a flood or file. While most business interruption policies specify that the peril or emergency must result in physical losses to the business structure or business merchandise, this is not always the case. Indeed, closure as a result an order to close businesses to prevent the spread of the coronavirus may be covered under your business interruption insurance policy.
Why Are Business Interruption Claims Denied?
An insurance company’s primary interest is in saving the insurance company money, not in paying claimants what they deserve. As such, your insurance company may go to great lengths to find ways to reduce or deny your claim, such as arguing that the specific losses you are claiming aren’t covered, that the peril that led to loss (i.e. business closure due to an emergency like COVID-19 spread) isn’t covered, or even that your losses are a result of your own negligence. In other cases, an insurance company may engage in bad faith practices by refusing to investigate your claim within a reasonable amount of time or by denying your claim outright without a legitimate reason.
You Have Rights – Our Lawyers Can Protect Them
When an insurance company denies or lowballs a claim, the insured party has the right to reject a settlement offer, negotiate their claim offer amount, or appeal the denied claim. However, if a policyholder doesn’t understand why their business interruption claim was denied or what they are specifically entitled to under their policy, taking meaningful action can feel impossible. At the office of van der Veen, Hartshorn and Levin, we recognize that policy language is often awfully complicated and nuanced, and that standing up to an insurance company can be intimidating. Our lawyers are here to protect your rights by making sure you understand the specifics of your business interruption coverage, as well as what you can do if you are offered less than you deserve or your business interruption claim is denied.
Call Our Allentown Business Interruption Lawyers Today
If you have business interruption insurance but your claim has been denied, reach out to our Allentown business interruption lawyers today for a free consultation. We are committed to helping businesses like yours get the support they need during difficult times.