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Charleston Business Interruption Insurance Lawyer

Business owners in West Virginia have many responsibilities to take care of so their business is successful. One of those important responsibilities is having business interruption insurance in case of emergencies. When someone is running a business, they may suffer from unforeseen circumstances, whether it’s a major storm, theft, or any other reason that could cause their business to need to shut down. Because they cannot operate and continue to earn money during this time, they need an insurance policy to take care of their costs.

Having this type of insurance can provide peace of mind and a solid plan for when things happen that are out of the business owner’s control. They know that while they’re dealing with the problem, they can use their insurance to move forward. However, this depends on the insurance company approving their claim. If there’s an issue with your claim that leads to a dispute, you may need to take legal action so you can get the compensation you deserve. A Charleston business interruption insurance lawyer from DiPiero Simmons McGinley & Bastress, PLLC can help you with your claim.

We understand how frustrating it can be when an insurance company prevents you from getting the help you need. If the insurance company denied your claim but had no grounds to do so, we may be able to help you hold them accountable for their actions and get the coverage you were supposed to receive in the first place.

Why Is Business Interruption Insurance Important?

When business owners are seeking insurance, they have many items they need to keep in mind. Commercial insurance can give them the coverage they need in case a crisis occurs that results in them having significant financial losses.

The impact of these losses could be enough to put someone out of business. Consider the following possible impacts if the business cannot operate regularly:

  • Lost or delayed sales
  • Lost or delayed income
  • More expenses
  • Fines
  • Penalties that have to do with contracts
  • Loss of customer base
  • Cannot begin new business plans

With business insurance, business owners can be prepared for situations like the ones above. They’ll be able to cover those losses and will have the time to stay financially afloat while they wait for their business to be up and running again.

What Can Business Interruption Insurance Cover?

In the policy, there should be a list of events that are included and also the ones that it excludes. It’s vital to understand what your policy covers and what it doesn’t cover so you’re able to file a claim for business insurance properly.

Business insurance policies can include the following business disruptions:

  • Wind damage
  • Water damage
  • Fire damage
  • Criminal activity like theft or vandalism
  • Equipment damage
  • Supply chain interruption
  • Utility outage (electricity, water)
  • Information technology issues
  • Essential employees aren’t present

The COVID-19 Pandemic

The COVID-19 pandemic has had an unprecedented effect on businesses– especially businesses in West Virginia. No one expected to have to shut down operations while the country was locked down to protect public health. As businesses weren’t able to run, they still had employees and bills to pay.

Since business shutdowns happened because of official orders to do so, many businesses didn’t have a choice. Business owners may seek business insurance to cover the losses they suffered as a result of the pandemic. However, no one could have anticipated this incident and it may not be explicitly stated on individual policies. Typically, to have coverage, an insurance policy may still require a loss from something listed on a policy. If this isn’t present, then insurance companies may deny claims because this wasn’t covered.

If you’re in an insurance dispute because of the pandemic, our attorneys may be able to assist in resolving the dispute. We’ll review your policy and see if you have a valid claim. If you do, we’ll help you stand up to the insurance company who is denying you coverage.

What Can Lead to a Business Interruption Insurance Claim Denial?

If your insurance claim is denied, it doesn’t automatically mean the denial was unfounded. The insurance company’s reason may be founded if any of the following are true:

  • The loss isn’t covered on the plan
  • The business owner is listing a different reason for losses than the real cause
  • There is an overestimation of financial losses from the interruption

However, insurance companies need to conduct thorough investigations to reach their conclusion. If they are purposefully extending their examination of the claim and denying you coverage, didn’t conduct an investigation, are misconstruing their own policy, or are engaging in any kind of bad faith practices, you can hold them accountable.

When you need to get the coverage you rightfully deserve but the insurance company isn’t cooperating, you may feel fatigued and overwhelmed. It can be exhausting to know that you took the necessary steps to protect your business, but when you need the coverage, the insurance company is preventing you from getting the help you need.

Unfortunately, insurance companies protect their bottom line first. They may use a number of tactics to stop you from getting your coverage. When you have a Charleston business interruption insurance lawyer on your side, you’ll have someone looking out for your best interests and protecting your bottom line so you can continue to run your business.

Has an Insurance Company Denied Your Business Interruption Insurance Claim?

If you’re filing a business insurance claim or you’re dealing with an insurance claim denial in West Virginia, our lawyers are here to help. We’ll build a strong claim to give you the best chance of approval from the start. If we’re helping you contest the insurance company’s decision, we’ll help you appeal the denial and get your claim back on track.

The sooner you get in touch with DiPiero Simmons McGinley & Bastress, PLLC, the sooner we can start fighting for your rights. We want to help business owners get the coverage they need so their business can thrive again. Call us today for a free case evaluation.

The information on this website is for general information purposes only. Nothing on this site should be taken as legal advice. Viewing does not constitute an attorney-client relationship. Prior case results do not guarantee a similar outcome.
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