Business Interruption Insurance

When a business is hit with an unfortunate disaster, such as a fire, tornado, hurricane, or other damage, that causes it to temporarily close its doors, it can take an enormous toll on the proprietor’s business income. While a business owner may have insurance that covers the cost of repairs, they also need some way to cover the cost of the income they are losing while their doors are closed. That is where business income insurance, also known as business interruption insurance, comes in. Unfortunately, business income insurance can be tricky, and some insurance companies attempt to deny or severely underpay claims at a time when business owners are most in need.

If your business was hit by disaster and your insurance company is denying or underpaying your business interruption insurance claim, you may need the counsel of an experienced Dallas insurance lawyer. To speak with an attorney who may be able to help you hold your insurance company accountable for what you are due, contact the firm of Smith Kendall, PLLC, today at 214-361-6124.

What You Should Know About Business Income Insurance

Business income insurance provides business owners with a portion of the potentially lost income they suffer when they must shut down business temporarily. The following are some important points to keep in mind about business income insurance:

  • Insurance companies take discontinued expenses into consideration
  • Extra coverage can be purchased to cover not only the lost income up to the point of re-opening, but also the potential time it takes to regain clientele
  • Business income is defined as the potential gross profit or earnings of the business
  • Business income insurance does not provide coverage for repairs

Because the potential income lost is only an estimate, insurance companies may attempt to underpay or deny your claim. In these cases, legal action may be necessary.

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At Smith Kendall, PLLC, our Dallas insurance attorneys have years of experience helping clients obtain the insurance payments they need when their insurance providers falsely deny a claim. For more information on how we may be able to help you, contact us today at 214-361-6124.

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Smith Kendall, PLLC

5910 North Central Expressway #925
Dallas, TX 75206

Phone: (214) 361-6124
Fax: (214) 361-6126

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