Does My Company Have Business Interruption Insurance Coverage?

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Does My Company Have Business Interruption Insurance Coverage?

Business interruption insurance is sold as a safety net for businesses in case they are forced to stop normal operations, resulting in lost business, revenue, and profits.  Safer at Home policies have shut the doors of countless businesses during the Covid-19 pandemic.  Business affected by forced closure or drastic change in operations can pursue insurance claims under business interruption insurance.  Many businesses may not even be aware if they have this type of insurance coverage.  While business liability insurance is often required, business interruption insurance is not.  It’s important to review all of your insurance documents to see if you have purchased business interruption insurance without even realizing it.

How is it possible to have purchased an insurance coverage without knowing about it?  Business interruption insurance is sometimes bundled with other coverage, including the more utilized Business Owner’s Policy (BOP).  In addition to business liability and commercial property, BOPs often include business interruption coverage.  If you have struggled during the coronavirus pandemic and have purchased any type of business insurance, it is important to look over your policies.  If you see any of the following terms in your declarations, you may be able to file a claim:

  • All risk
  • Business disruption
  • Business interruption
  • Civil authority
  • Contingent business interruption
  • Extra expense
  • Loss of ingress or egress
  • Open perils

If you have any of these declarations and have already filed a claim that was denied, you may be able to fight the denial in court.  The Law Offices of Scott Warmuth provides help to companies whose valid business interruption insurance claims have been unfairly denied.  We hold insurance companies accountable when they wrongly deny valid claims.  Our legal experts can help you examine your business interruption insurance policy and determine if you have a valid claim.  Call us today at 888-517-9888 to schedule a free consultation.

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