Business Interruption Claims & COVID-19

business interruption claims

Business interruption coverage is a portion of a business’s property insurance policy that reimburses for lost profits due to unexpected losses. In many policies, this coverage is only effective when the business suffers direct physical damage. However, some policies do accept business interruption claims that are a result of indirect or non-physical damage.

During the COVID-19 pandemic, it’s no secret that many businesses were affected by stay-at-home orders and other restrictions. With the help of a public adjuster from Atlantic Coast Public Adjusters, we can verify damages or losses. If we determine your claim is valid, we can submit your paperwork in a timely manner. According to the Florida Legislature’s Office of Program Policy Analysis and Government Accountability, those who hire public adjusters receive 574% more money than those who do not. This makes hiring our service that much more important to help your business to get back on track during and after the pandemic.

Types of Additional Insurance Coverage

There is other insurance coverage that can help Florida businesses to recover losses from the COVID-19 pandemic, including:

  • Civil Authority Coverage: Civil authority coverage is an additional coverage used to supplement your property insurance policy that provides compensation when losses occur because of government entities issuing restrictions. This applies to any business affected by a national or state-wide shutdown.
  • Contingent Business Interruption Coverage: This coverage covers any losses where damages from the virus disrupt your supply chain. An example would be a business that cannot get materials to manufacture its products.

Some commercial policies do have exclusions that exclude coverage for losses caused by any virus. This makes it important to hire a public adjuster that can review your commercial insurance policies to determine whether you’re eligible for business interruption claims. Storing your insurance policies and other important documents off-site is helpful in times of emergency and when filing business interruption claims.

What is a Public Adjuster?

Usually after a disaster, a claim is filed directly with an insurance company and a public adjuster is sent to the business. However, we at Atlantic Coast Public Adjusters work for the business and not insurance companies. This means that we are committed to helping you receive the best payout. We can take the stress out of filing business interruption claims.

We understand the laws associated with COVID-19 and business interruptions in South Florida. These claims are complex and time-consuming, making them too difficult to handle on your own. With our professional team by your side, you can ensure that you get the results you need for your business each and every time. Our claims handling team has two decades of experience working with both small and large claims.

How Public Adjusters Help You File Business Interruption Claims Correctly

Never try to settle any claims without a public adjuster. At Atlantic Coast Public Adjusters, we understand that the circumstances with filing these claims are dire. We work diligently to verify coverage and file all necessary paperwork expeditiously so you can get the money you need quickly. Only an attorney or a public adjuster can represent businesses with claims dealing with insurance companies, according to Florida State Statutes. The best part is that we don’t get paid unless you do, so our service is completely risk-free.

To learn more about our public adjusters, call our office at 877-231-0201 or visit Atlantic Coast Public Adjusters’ Facebook page. We represent all of Broward, Miami-Dade, West Palm Beach counties. We are proudly a member of the Florida Association of the Public Insurance Adjusters. If your business has been negatively impacted by COVID, get in touch with us today to find out how we can help you file a business interruption claim.