Business Interruptions Due to Hurricane Michael

Experienced hurricane insurance attorneys help Florida businesses recover compensation and rebuild

After Hurricane Michael swept through Florida in October, 2018, Florida residents were faced with damage to their homes, cars, boats, and businesses. Roads were flooded out. Power outages were widespread. If you are a business owner, you may have sustained property damage to your place of business, experienced loss of income due to suspended operations, or incurred extra expenses as a result of the loss. The top-rated legal team at Ged Lawyers, LLP understand the challenges facing businesses in the wake of Hurricane Michael, and work tirelessly on behalf of Florida business owners to successfully recover maximum compensation. We fight for your financial future.

Are my losses from business interruption due to Hurricane Michael covered?

If you lost income due to business interruption that was a result of Hurricane Michael, whether your losses are covered under your insurance policy depends upon the individual policy itself and the specific facts pertaining to each loss. Business interruption insurance is generally provided with an insurance rider – also known as an endorsement or floater – which is an optional add-on to your commercial property insurance policy.

Business interruption insurance

Business interruption insurance is designed to protect any prospective earnings of the insured business. It is designed to compensate the insured business against any losses that stem from the business’ inability to continue normal business operations and functions. Insurance coverage kicks in if a business’ operations are totally or partially suspended due to the loss of a building, or loss of use of a building, or damage to any and all parts of a business’ operations, including machinery, equipment, facilities, plants, or other property.

How long is business interruption insurance effective?

Generally speaking, business interruption insurance is effective for what is called the “period of restoration”. This period is considered to be the time required to rebuild, repair, or replace the damaged property with a similar quality structure in a reasonable amount of time. Business interruption insurance usually begins on the date the damage was sustained and is generally not limited by the expiration date of the insurance policy.

What is proof of loss?

Many insurance policies have provisions that establish when an insured must notify the insurer of a covered occurrence. Some business interruption policies may require that you submit a signed sworn proof of loss within 60 days of the insurer’s request. Other policies require that you submit proof of loss within 60 days of the date of the occurrence. In most situations, this time period can also be waived or extended by the insurer.

We help your business get back to business

Suffering damage to your business from Hurricane Michael can be stressful and financially debilitating. You want to receive compensation for business interruption and start the necessary restoration. At Ged Lawyers, LLP, we understand. Our experienced disaster recovery attorneys help your business get back to business. Contact our office today at 844-443-3529 or online to schedule a confidential consultation to discuss your situation.