Florida Business Interruption Insurance Claims Adjuster
Business interruption insurance is a specialized insurance protection available for a wide variety of Florida businesses.This includes traditional retail and commercial operations as well as e-commerce and internet related operations maintained by many individuals in Florida who either work from their home or in an established public location.
Types of Claims
This loss protection may be considered a luxury for many business owners, but some entrepreneurs view business interruption insurance as an absolute necessity. The problem with business interruption insurance is that the terms of a general business policy are often vague, and if the policy does not spell out coverage based on the wording of the contract, then collecting damages with a claim can be difficult after a flood, hurricane, or other disaster. Other types of claims could include:
- Tornado
- Fire
- Extreme heat
- Extreme cold
- Hail storm
- Covered Damages
Business interruption insurance policy holders can expect the company adjusters to investigate any claim for operation interruption just like with a homeowner’s claim. Individuals operating a business from home should have distinct areas where business is conducted to avoid confusion. Coverage payments will more than likely only be for damage to equipment and inventory because payment for loss of profit while being shut down will need a specific additional policy rider. This is usually an “extra expense” rider and should be included on any policy when making a purchase decision. If the agent does not offer the additional rider, always ask for an included policy premium. But remember, this is often where disagreements arise when calculating the amount of total damage.
Documentation
It is vital for every business operator to maintain protected documentation of business activity. There is a variety of reasons this should be done, and potentially filing an insurance claim is one of them. Documentation can provide evidence of cash flow during normal operation periods and can be a solid basis for a loss of profit claim when necessary. Documentation is important in practically every insurance claim situation, and business interruption insurance is no different. Likewise, insurance company adjusters deal with claims on a daily basis and are always looking for a technicality that can be used to lessen the value of a claim or issue an outright coverage denial.
Anyone in the Ft. Lauderdale area who is having trouble with a business interruption claim should contact a professional public adjuster like our team here at Southeast Public Adjusters in Pembroke Pines for assistance regarding the claim.