As a business owner, you understand that any interruption to your daily business can result in large financial losses. It is precisely why you carry a policy with business interruption language. But policies vary in terms and terminology, and policyholders sometimes see a reluctance on the side of an insurer to pay a claim, often after a broad-sweeping disaster. Other times, an insurance adjuster will try to take advantage of an inexperienced business owner who may be overwhelmed with a loss including purposely trying to undervalue a claim in order to save money for the insurance company. Our experienced business interruption attorney in Fort Lauderdale does not believe this is fair for a policyholder, who pays his or her premiums, to have to have an otherwise valid claim denied.
This is why Schlacter Law is dedicated to fighting back against aggressive insurance adjusters or overreaching defense lawyers who do not play fair with policyholders. When a massive disaster loss event results in business interruption, victims and their businesses should receive the compensation that they deserve for their losses in order to be able to continue to move forward. If an insurance company does not fairly compensate the business, it could spell disaster for a business. Do not let your business get victimized twice and have to close because of a covered loss. Call our experienced Fort Lauderdale business interruption attorneys at Schlacter Law today for a FREE consultation to learn how we can start to help you.
Most people who suffer a significant insurance loss will turn to a public adjuster first to try to submit a claim. While this is a good idea, there is a better one. Hiring a business interruption lawyer allows for the possibility of a higher return for the business as well as a threat of litigation if an insurance company does not play fair.
This is because a business interruption lawyer can commence a lawsuit in court to enforce a policyholder’s rights, whereas a public adjuster cannot. This is because, while a public adjuster is experienced in handling insurance claims, a public adjuster does not have a law license or legal training. There is a huge advantage to having a lawyer who has graduated from law school, has been taught insurance law, and has passed the bar examination to help interpret contract provisions.
But by far the greatest difference between an insurance claim lawyer and a public adjuster is the cost. An insurance company generally has to pay the attorney’s fees for a policyholder, which is added to the reimbursement claim. A public adjuster just takes up to 20% of the reimbursement claim. Thus, if all things are equal with the total reimbursement for the actual business losses, a business will generally receive more compensation using a lawyer than a public adjuster based on how the fees are paid.
At Schlacter Law, we can help. Throughout our years in practice as Fort Lauderdale business interruption attorneys, we have represented business owners against insurance companies that fail to pay legitimate claims. We do that by helping business owners assess their coverage, guiding them in preparing evidence of financial loss and then holding the insurance company responsible for a fair resolution.
Turning to your business policy is an obvious choice when you have suffered an interruption after a hurricane, fire, flood, criminal activity, or even a government shutdown. But business interruption insurance law is complex. Having the guidance of a Fort Lauderdale business interruption attorney can help you understand the scope of your coverage, its exclusions, and your legal rights with regard to that coverage.
Business insurers will differ in their scopes of coverage and their terminology. Some use terminology that is subject to interpretation that they then use to deny valid claims. These small differences can make a big difference in terms of your coverage and whether you will see a fair settlement upon a loss. Unfortunately, many business owners are unaware of their rights to dispute a denial. Insurance companies know this and will take advantage of policyholders who do not rely on the help of an experienced lawyer like one of ours at Schlacter Law.
A business interruption insurance claim has one purpose: To financially compensate the business owner for losses as the result of a specific event. Covered events are spelled out in the policy but are also subject to exclusions. The way your policy is worded and the exclusions spelled out are extremely important to the way your claim will be interpreted and settled.
Moreover, losses are based on the pre-event financials of the business. These often can be difficult to prove. Even with the correct coverage, insurance companies and even the courts can challenge your losses. Proof of a direct physical loss will require substantial verifiable evidence to support it in a way that will satisfy the insurer and the courts.
At Schlacter Law, we help you interpret your coverage and then assist you in compiling the necessary evidence in support of your claim. We then go on to present your claim for settlement and negotiate the terms of that settlement. If you have been denied, we will litigate it in court to ensure that your legal rights to a fair settlement are represented.
As experienced business interruption lawyers in Fort Lauderdale, we know exactly what the insurance companies are looking for and the tactics they use to deny claims.
When it comes to business interruption insurance in Florida, the law is clear. If you are covered under your policy and you have sufficient verifiable evidence of your losses under its terms, you have legal recourse. The experienced Fort Lauderdale business interruption attorneys at Schlacter Law are there to help you if you have suffered a loss due to an interruption in your business.
If your business suffered losses due to a storm, catastrophe, criminal act, or other loss that should be covered by your insurance policy, ask our experienced business interruption lawyers at Schlacter Law how we can protect your rights to compensation in Fort Lauderdale. We offer a FREE consultation and can speak with you any time of day or night. Call (305) 999-1111 to learn what your rights to compensation may be under Florida law.
References
http://www.leg.state.fl.us/Statutes/index.cfm?App_mode=Display_Statute&URL=0000-0099/0095/Sections/0095.11.html ↩
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