Our community is bouncing back from Hurricane Florence. In some cases, it will be a long, hard road back. The economic impact of the storm could linger for months. Business owners need to take advantage of every resource available to weather the post Florence economic storm.
Some businesses have experienced physical damage from Florence, others have not. Almost every business in the area was down for a minimum of a few days. You need to explore your insurance policies to see if you have coverage for the down time, regardless of whether you had physical damage.
Addressing business interruption losses can be challenging. Insurance companies employ their own forensic accountants to protect their interests. When insurance companies calculate the damage they may do so without the business’ best interest in mind. Have your own forensic accountant work with your claims adjustor to review loss estimates, identify the financial impact of the event, and help evaluate a reasonable and fair outcome for both you and the insurance company. Often times, your insurance policy will cover these additional professional service fees.
Realize that when it comes to claims, insurance companies want to pay out the minimum. Fight for yourself and let us help you fight for your business. As an example, we have already helped a client increase their insurance settlement by $59,000 from $5,000 to $64,000. They have already received their $64,000 deposit.
For assistance obtaining a fair business interruption settlement contact us today. We’ll review your insurance policy for business interruption coverage at no cost. Email us @ [email protected].