The ongoing impact of COVID-19 has been devastating to businesses across the country. Few industries have been spared the tremendous effect that mass closures have had on businesses’ ability to pay their rent, utility costs, employees, or even re-open in the future.
Many local companies have questions about Columbus business interruptions claims and whether they may qualify for benefits under their policy provisions. Some commercial insurance companies have been denying these claims, stating that the losses sustained by businesses due to COVID-19 do not qualify as recoverable damages.
If you have questions about or need help filing a business interruption claim, you should reach out to a business attorney who can evaluate the coverages on your policy. Depending on the provisions of your policy, our experienced team of attorneys can help you file a business interruption claim for all applicable benefits that could help mitigate your losses during this time.
Understanding Business Interruption Insurance
Most business interruption policies provide coverage only in cases where insured property sustains physical damage that inhibits the business’s ability to operate as usual. It is this physical damage requirement that is causing trouble for so many Columbus business owners filing interruption claims due to COVID-19. Many insurers have been rejecting business claims outright based on nuanced policy language that does not explicitly provide coverage for damages stemming from a virus.
However, depending on the language of someone’s specific policy, it may still be possible to claim damages stemming from COVID-19. Some business interruption policies cite provisions for communicable diseases, while others leave out any mention of coverage in the event of virus-related losses. In any case, business owners filing interruption claims will need to provide extensive supporting documentation. This documentation should include tax returns, financial statements, and other information indicating the business’s economic losses resulting from the fallout of COVID-19.
Filing a Business Interruption Claim
Before filing a business interruption claim, a company owner should have one of our attorneys look over their policy to determine what coverages are available. The precise verbiage of the policy is crucial in determining whether it may be possible to argue that a business’s COVID-19 losses are coverage inclusions or if any other provisions may precipitate coverage.
Many policies have filing timelines for business interruption claims, which can be anywhere from two to six months. Our Columbus attorneys can help a business owner file a timely and well-supported claim based on the exclusions and inclusions of their policy. Furthermore, our team of dedicated lawyers can help a business owner gather the broad range of documentation needed for their application that indicates the losses sustained thus far and the measures taken to reduce the business’s outlay in response to the pandemic.
Contact a Columbus Business Interruption Claims Attorney
If you are one of the numerous business owners filing Columbus business interruptions claims, you may be in for a fierce battle against the insurance company. Our skilled attorneys can help you. If you have questions about the claims process, our team of qualified and accomplished lawyers can discuss your concerns and guide you through each step of your business interruptions claim. For additional information about filing a claim, get in touch with our office today and schedule a free consultation with attorneys you can trust.