COVID-19, has forced non-essential Florida businesses to close. On April 1, 2020, the Governor of Florida signed an executive order stating, “all persons in Florida shall limit their movements and personal interactions outside of their home to only those necessary to obtain or provide essential services or conduct essential activities.” This unprecedented interruption of business is causing Florida businesses to lose money. However, Florida business owners may recover through business interruption insurance claims.
Commercial insurance or business insurance may provide businesses with coverage for the losses resulting from COVID-19. But not all insurance policies use the same language! Insurance providers do not use a standard policy for commercial and business insurance policies. All claims and coverage will depend on the specific language of your commercial property insurance policy or business insurance policy. For example, many commercial property insurance policies only provide coverage for businesses experiencing a business interruption if there is a “physical loss.” It is important to note that a “physical loss” is not the same for all businesses, nor all policies. The term “physical loss” is not clearly defined under Florida law, your claim will be dependent on your policies language. Different types of businesses experience different forms of physical loss depending on the nature and functions of that specific business. Your insurance company might not agree with your claim of loss.
Insurance companies are businesses, and they will undervalue your claim. Now is not the time for you to become an expert on insurance policy language. Our attorneys handle the insurance company, you focus on your business.
The attorneys at Rosenberg Law, P.A., are equipped to help you with business interruption insurance claim disputes. Do NOT let the insurance companies make or break your business. Contact the attorneys at Rosenberg Law, P.A. to discuss your business interruption claim.