Business Interruption Claims

When a business property is damaged or destroyed, the financial cost is greater than the cost of repairing or rebuilding the physical structure.  As a result, you may be able to file a claim for, not only the property that was physically damaged, but also the loss of income that you incurred.  As a business owner that relies on their income to survive, business income insurance can be vital to keeping your business alive and allowing you to pay your other obligations in the meantime. 

Business interruption claims (also called business income claims) can be some of the most difficult to quantify.  Policies can vary, but business income insurance is generally sold on a “gross profit” or “earnings” basis, not a “net profit” basis.  The difference can often be monumental.  Further, these claims can sometimes be the most difficult to prove since the losses are inherently theoretical.  To make sure your business is getting all of the money it deserves, you should hire an insurance coverage attorney. 

In addition to lost profits, additional costs may include lost rents, loss of customers, temporary or permanent moving costs, and rental fees for a temporary location.  It can be difficult to establish the cost of these types of damages on your own and, without proper representation, you may find that your business insurance claim is denied or decreased by your insurance company.

In addition, you may have business income insurance and not even know it.  If you lease the space you use for your business from your landlord, you may qualify for a business income claim under his policy.  If you have a business interruption claim, you need an experienced insurance coverage attorney by your side.  Give us a call, it may just save your business. 

The Davis Law Firm is located in Jacksonville, Florida and serves clients throughout the states of Florida and Georgia, including Jacksonville, Miami, Pensacola, Orlando, Tampa, St. Petersburg, St. Augustine, Fort Myers, Daytona Beach, Panama City, Destin, Melbourne, Fort Lauderdale, West Palm Beach, Tallahassee, the Florida Keys, and everywhere in between.

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231 East Adams Street, Jacksonville, FL 32202
| Phone: 904.400.1429

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