Business Interruption Insurance

business-insurance-claim-formBusiness owners always have to be prepared for the unexpected, that’s why many business owners purchase business interruption insurance. This type insurance keeps a business a float after an unexpected event occurs such as a windstorm, fire, hail, hurricane or a riot. Just because a business has temporarily closed due to an unfortunate event, it doesn’t mean that the bills are going to stop coming in.

During these difficult times, business owners will often file a claim with their insurer, only to have it denied. If you believe that your business interruption claim was unfairly denied, contact an experienced insurance claims lawyer to discuss your legal options.

For additional information about filing a business interruption claim, fill out the Free Case Evaluation form.

Business Interruption Insurance Coverage

After a natural disaster or an uncontrollable event has occurred, business interruption insurance can keep the business for permanently closing its doors. The insurance coverage will keep capital flowing through the company.

This type of business insurance allows business owners to do the following activities:

  • Pay for relocation expenses and advertising fees, if you have to temporarily move
  • Pay the rent or mortgage
  • Pay the employees’ salaries
  • Pay for taxes
  • Replace lost net income

If your business insurance claim was unfairly denied, contact Arguello, Hope & Associates today.

Bad Faith

When a business owner purchases an insurance policy, they expect that when they need to file an insurance claim, that the insurer will cover their losses. Insurance companies owe a duty of good faith and fair dealing to the businesses that they insure; this duty is often referred to as the “implied covenant of good faith and fair dealing” which automatically exists by operation of law in every insurance contract. However, if the insurance company breaches this duty, the insured party may be able to file a tort claim for “bad faith.”

Listed below are some acts by an insurance company that may result in a tort claim:

  • Failing to pay valid claims
  • Failing  to settle within policy limits
  • Failing to properly investigate or value a claim
  • Deliberately delaying payment
  • Broker or agent negligence
  • Refusing to defend a lawsuit

If your insurance provider has committed any of the acts above, fill out the contact form on the right.

Common Denials for Business Interruption Claims

In today’s economy, every hour of business operation can be crucial to success. A business disruption can cause not only a loss of ongoing business, but it can result in the loss of one-time opportunities.

There are number of reason why an insurance company may deny business interruption claim. Listed below are some common reasons why the claims are denied:

  • The business interruption was not the result of a covered event.
  • The part of the business that was affected was not covered in the insurance policy.
  • The insurance provider claims that you did not purchase the right type of policy to cover business interruption.

The attorneys at Arguello, Hope & Associates have the knowledge and experience to handle bad faith claims. Our legal team knows how to identify the key clauses in the business insurance policy and provide the necessary evidence to support the claims.  We have a proven track record of obtaining compensation for our clients’ claims.

Compassionate Insurance Claims Lawyers

Not every insurance claim denial is a breach of duty. However, business owners should seek legal counsel if they believe that their insurance claim was unfairly denied.

At Arguello, Hope & Associates, our attorneys have experience with insurance issues, including bad faith claims. Over the years, our law firm has helped numerous business owners receive adequate compensation for their losses.

To speak with an attorney in regards to your insurance claim, fill out the contact form on this page or call 1-888-CLAIM-68 (1-888-252-4668).