Claiming Business Income Loss

Unfortunate disasters, such as fires, powerful storms, tornadoes, and earthquakes, can physically damage a business establishment, causing it to temporarily close its doors in order to make repairs. During this time, with the main operations of the business on hold, there can be a significant loss of income. For this reason, many people choose to purchase business income loss insurance. This type of insurance does not provide coverage for actual physical damage, but it does provide coverage for the loss of income the business experiences due to temporarily shutting down.

If your business is insured with business income loss but your insurance company is denying or underpaying a legitimate claim, you should consult with an experienced Dallas insurance attorney about the possibility of litigation. To speak with an attorney about your case today, contact Smith Kendall, PLLC, at 214-361-6124.

Steps to Take When Your Business is Damaged

When your place of business is damaged and you have to shut down for a period of time, there are a few steps to take in order to make a claim on your insurance:

  • Look over your income loss insurance policy to understand how thoroughly you are covered
  • Contact your insurance company to inform them of your temporary loss of business income
  • Fill out a claim form and include the extent of your projected losses
  • Keep a record of all the expenses you incur and the losses in income related to the temporary suspension of normal business activity

After taking these steps, if you are unsure or believe that your insurance company is unfairly denying your claims, consult with an experienced insurance attorney to find out how you may be able to collect the full amount of compensation you believe you are owed.

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At Smith Kendall, PLLC, our Dallas insurance lawyers believe that everyone should be given their due payment from insurance companies when they suffer from business income loss. If your business has had to temporarily shut down and your insurance company is unfairly denying or underpaying your claim, contact our firm today at 214-361-6124.

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