COVID-19 has affected approximately 216 countries and territories worldwide, all of which have had positive cases of the virus. Globally, more than 10 million people have been infected by the virus. So far, more than 500,000 people have died after becoming infected. These numbers are as of late June 2020. COVID-19 was declared a pandemic as of early March 2020.
After the situation was determined to be a pandemic, the U.S. declared a national emergency. State governments began issuing a number of orders designed to limit the spread of the coronavirus. In California, for example, all non-essential businesses were ordered to close. Only essential businesses were allowed to remain open during this time; these essential businesses included grocery stores, banks, restaurants offering take-out and delivery, and pharmacies, for example).
Without a doubt, California’s closures were devastating for small businesses that were ordered to close. In addition, the state’s stay-at-home order reinforced by local stay-in-place orders encouraged individuals to stay at home whenever possible and avoid going to businesses. Although many businesses were forced to close, some businesses could not afford to remain open due to the drastic drop in businesses. Recently, many businesses have been allowed to reopen – only to be forced to close again due to surges in positive cases. Regardless of the specific circumstances, many businesses were affected and continue being affected by the pandemic.
Are you a business owner? If so, your small business might have been devastated as a result of the pandemic and the government-ordered closures. As a business owner, you might have business interruption insurance, however. This means that you might have grounds to pursue a claim. Specifically, you might have grounds to file a business interruption insurance claim. For more information about your right to file a business interruption claim, do to hesitate to seek legal assistance with the experts at Normandie Law Firm immediately.
At Normandie Law Firm, our lawyers have many years of experience handling all sorts of claims – including claims against insurance companies. If you are interested in filing a business interruption insurance claim and are in need of legal assistance, do not hesitate to contact the experts at our firm immediately. Our lawyers are ready to provide you with the guidance that you need to recover the compensation to which you are entitled.
What is Business Interruption Insurance?
Do you have business interruption insurance? Business interruption insurance is a type of insurance that could help business owners; specifically, business interruption insurance can help business owners when their businesses suffer losses associated with disasters and other unforeseen circumstances. When business owners have business interruption insurance coverage, business owners can recover monetary compensation for their losses.
Did your business suffer significant losses due to the COVID-19 pandemic? Does your insurance policy apply to losses associated with a pandemic? Many business owners – whose businesses were severely affected by the pandemic – are asking themselves the same question: are there losses covered by their business interruption policy? Business interruption insurance policy language can be unclear. Although some policies do not exclude coverage for losses caused by pandemics, they do not explicitly include coverage for these losses; therefore, navigating business insurance claims during times of pandemic could be difficult.
What is Covered by Business Interruption Insurance?
If you have business interruption insurance, you might have coverage for some of the following:
- Expenses associated with relocating the business to keep it operating (temporary locations)
- Lost profits directly caused by the disaster
- Fixed expenses associated with the normal business operation (keeping the business operational during the disaster time)
- Commission/training costs associated with training employees to use the equipment replaced by insurance
- Civil Authority Ingress/Egress for all the lost profits resulting from government-ordered business closures
Could your policy cover everything listed above? The answer to that question will depend on two things: (1) the policy language and (2) the details surrounding your specific situation/claim. For more information on the coverage that your business interruption insurance policy could provide – and what you could be eligible to recover – do not hesitate to contact the experts at our firm immediately.
What is My Business Interruption Claim Worth?
If you are considering the possibility of pursuing a business interruption claim, you are likely also considering the possibility of recovering some sort of compensation. You might have asked yourself many questions regarding the potential value of your claim. How much can your claim be worth? How much could you be eligible to receive if your claim is successful? Although it can be tempting to make assumptions regarding the value of your claim (based on information about other claims), only the details surrounding your specific situation.
To get a better understanding of the possible value of your business interruption claim, you should ask yourself questions about your situation. Consider some of the recommended questions below to help you grasp a better understanding of the possible value of your claim:
- How much did your business lose in profits?
- How much profit was directly lost as a result of the government-ordered closure of your business?
- What were the expenses associated with relocating your business?
- How much did it cost to keep your business operating?
- How many extra expenses were incurred associated with keeping the business operational?
- Were there any additional expenses associated with training employees to use any new equipment replaced by the insurance company?
The answers to the questions listed above could help you get a better picture of the potential value of your business interruption insurance claim. The value of your claim will also depend on your insurance coverage – that is, your coverage’s policy limit.
For example, if your total losses/expenses amounted to $250,000, your claim could be worth $250,000. Likewise, if your total losses/expenses amounted to $400,000, your claim could be worth $400,000. But what if your policy limit only covers $300,000? If your total losses/expenses are under your policy limit, the entire value of your claim could be covered. However, if your total losses/expenses surpass your policy limit, the value of your claim will be limited to whatever is allowed by your policy limit.
For more information about how much your claim could be worth, do not hesitate to seek legal assistance with the experts at our firm immediately. Our lawyers are ready to provide you with all the information that you need to understand the possible value of your business interruption insurance claim.
Contact Normandie Law Firm Immediately
Are you interested in learning more about the potential value of your business interruption insurance claim? If so, do not hesitate to seek legal assistance with the experts at our law firm at your earliest convenience. Normandie Law Firm is a firm with many years of experience handling all sorts of claims – always representing the best interests of our claimants. Our knowledgeable business interruption insurance lawyers are ready to evaluate your claim and provide you with he expertise necessary to help you pursue your business interruption claim – you can trust that our lawyers will provide you with the necessary guidance to help you recover compensation for your losses. For more information about your right to pursue a business interruption insurance claim, do not hesitate to seek legal assistance with the experts at our law firm as soon as possible.
The experienced lawyers at Normandie Law Firm understand that it could be difficult for business owners to get access to the legal services and legal representation necessary to pursue their claims. Therefore, we are dedicated to remaining accessible via our free legal services. Our free legal services include free consultations and free second opinions. During these free legal services, our business interruption lawyers will be available to answer your questions and address your concerns. Our lawyers will be available to ensure that you have access to all the information that you might need to start or continue your claim. If you are ready to benefit from our free legal services and speak to our business interruption lawyers, contact us today.
We offer a Zero-Fee guarantee which ensures that our clients will never have to pay any upfront legal fees for any of our legal services. Our firm is also strictly based on contingency; this means that our clients will not have to pay anything until after reaching a positive claim outcome. If you do not win, you will not have to pay anything.
If you are ready to discuss the potential value of your business interruption insurance claim with the experts at our firm, do not hesitate to contact us at your earliest convenience. The lawyers at Normandie Law Firm are ready to handle your claim.
