Business Interruption Claims in Las Vegas, NV
Let Our Las Vegas Insurance Attorneys Evaluate Your Policy
You’re a smart business owner, which means you purchased business interruption insurance. You might be here because you are wondering whether or not your insurance policy applies to a certain situation or because you are having difficulties getting the coverage you paid for.
No matter what you are facing, the Law Offices of Steven M. Burris can help. We serve Las Vegas with over 40 years of experience and can make sure your voice is heard when insurance companies refuse to pay what you need and deserve.
Call us at (702) 529-3101 today for a free consultation.
What Is Business Interruption Insurance?
Business interruption insurance is coverage you can add to your property insurance policy or existing business insurance package. It accounts for situations in which your business is temporarily unusable due to a fire, flood, or another “covered disaster.”
Business interruption insurance compensates you for the income you would have earned were you not forced to vacate your property. It also covers operating expenses, like rent and power, that continue whether or not your business is up and running. Some policies also cover extra expenses, like the costs of relocating and/or rebuilding. Depending on the “restoration period” you paid for, the benefits of your policy could last up to 12 months.
Physical Damage and Other Covered Perils
Most business insurance policies are based on “physical damage,” which means your property is not physically usable while you are receiving benefits. Unless your policy has specific exclusions, physical damage could include anything that makes your business unfit for use – your coverage will depend largely on the way your policy is worded.
Your insurance contract may also include coverage for theft, acts of government, and infectious diseases. Conversely, your policy could exclude certain perils. More often than not, however, policies do not specify at all.
To figure out if you are covered, you will have to go over your policy carefully and pay attention to all relevant language. This process can be difficult, but our Las Vegas insurance attorneys can help.
COVID-19 Claims
On March 11, 2020, the World Health Organization (WHO) declared the novel 2019 coronavirus disease (COVID-19) a global pandemic. As a result, many states, including Nevada, issued executive stay-at-home orders that closed “non-essential” businesses and required residents to stay home.
Many small businesses, especially bars, restaurants, and boutiques, were devastated by this act of government. Now, business owners are seeking ways to keep their companies afloat.
The insurance industry estimates as many as 30 million business interruption claims from small business owners as a result of COVID-19. Many of these claims will be delayed, undervalued, or denied.
Unless your policy expressly prohibits infectious disease claims, these tactics are unacceptable and may even be considered insurance bad faith. Because the coronavirus contaminates surfaces and spaces, you may be able to make a physical damage claim against your insurance policy. Similarly, you could be covered under an “acts of government” clause or have coverage for losses inspired by “civil authorities” if an executive order barred you from accessing and operating your business.
Like any other claim, a COVID-19 claim will require you to evaluate your policy carefully and adhere to all language and exclusions.
The best way to get started is to let the Law Offices of Steven M. Burris take a look at your policy.
What If My Claim Is Denied?
Insurance companies are notorious for handling emergencies poorly. Your insurer may deny valid claims in an effort to protect profits or use other bad faith tactics.
If you experience any of the following behaviors, do not hesitate to call our Las Vegas insurance lawyers:
- Failing to investigate a claim promptly
- Delaying a decision on a claim
- Significantly undervaluing a claim (the offer is within policy limits but does not account for your losses)
- Requiring excessive proof
- Denying a claim without written, reasonable cause
- Intentionally misinterpreting policy language
- Using manipulation, threats, or other abusive tactics
When you’re working with your insurance company and something doesn’t feel right, it probably isn’t. Firms like ours are here to help keep insurers accountable, so do not hesitate to…
Call the Law Offices of Steven M. Burris Today
Our attorneys have recovered millions on behalf of our clients and treat everyone we serve with care, respect, and honesty. We are backed by more than 40 years of legal experience and use our resources and reputation to handle our cases with efficiency.
For award-winning legal representation in your business interruption insurance claim, please call us at (702) 529-3101 today or schedule your free consultation online.
Together, we can find a resolution!
