2020 presented multiple unprecedented challenges for all Americans. Hurricane Laura hit the residents of southwest Louisiana with fearsome strength, causing massive destruction. Thousands of businesses were destroyed and damaged by the severe winds and relentless flooding. If your business closed due to Hurricane Laura, contact the qualified attorneys at Johns Law Group to discuss your options and review your business interruption claims after a hurricane.
What Does a Business Interruption Policy Cover?
A business interruption policy provides financial assistance to businesses forced to close down due to an event covered by their policy, which impacted their business property. If your business suffers a loss covered by your business interruption policy you can file a claim for:
- Revenue the company would have earned if it were operating normally;
- Mortgage, rent, and lease payments for your business property;
- Loan payments made during the time where your business is nonoperational;
- Taxes;
- Payroll for employees; and
- Relocation costs if you were forced to move to a new location as a result of damage to your business property.
Determining what your business interruption insurance covers require a detailed review of your policy terms and conditions. The attorneys at Johns Law Group can review your business interruption claims after a storm to determine the details of your coverage.
How Do I File a Business Interruption Claim?
After a natural disaster such as a hurricane, contact your insurer immediately to advise them that your business property was damaged, causing your business to cease operations.
The way you present your business interruption claim after a hurricane is critical to receiving an appropriate response to your specific needs. Business interruption claims should include the following:
- A cover letter providing details of your business, including location, details of the damage suffered, your business’s current operation status, and the impact to your business;
- Detailed calculations of losses suffered; and
- Supporting documentation of how you arrived at your estimates.
Insurance companies deal with thousands of claims. Therefore, it’s crucial to provide as much specific information about your business and the damage suffered as possible. Providing all the relevant information necessary allows the insurer to more quickly process your claim.
What Are Probably the Most Common Causes of Business Interruption?
Your business may suffer an event causing interruption to your business at any time.The most common causes of business interruption include the following:
- Fire and explosions,
- Natural disasters,
- Supplier failure,
- Cyber incidents, and
- Machinery breakdown.
Almost all businesses face some degree of risk with the above events. Determining the degree of risk to your company of suffering any of the above events can help you decide what type of business interruption coverage to purchase.
Talk to an Attorney About Your Business Interruption Claim
If your business closed after Hurricane Laura, contact Johns Law Group to review your business interruption claims after a storm. Our firm provides free information and resources so you can better understand the process of business interruption insurance. Our attorneys assist businesses in all stages of business interruption claims, from making the claim to litigating disputes with the insurer. If your business interruption claim has been delayed, denied, or underpaid, contact us today for a free claim review!
Jeremiah Johns is a former insurance defense attorney who now represents plaintiffs in bad faith insurance, catastrophic injury cases, and commercial disputes. He has a unique perspective from his experience representing some of the nation’s largest insurance companies.
Jeremiah is licensed to practice law in Texas, Louisiana, Florida, and Georgia (though he is presently inactive in Georgia). He is also admitted to the 5th Circuit Court of Appeals. For his education, Jeremiah earned an LL.M. in Admiralty from Tulane University, a J.D., cum laude, from Syracuse University, and both a B.A. and B.S., magna cum laude, from Georgia State University.
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