Insurance companies stay busy with business interruption insurance claims in Texas each year. This makes sense when you consider how many bad storms the state experiences annually.
Texans experience more tornadoes every year than those in any other state. They also experience the second-highest number of hurricanes in the country, behind only Florida.
These types of storms are often very bad for Texas businesses. They can force them to shut down and hurt their bottom lines while adding extra expenses that can further decimate their revenues.
Fortunately, business interruption insurance can protect business owners by allowing for loss assessment and profit restoration. However, disputes over these kinds of insurance claims arise from time to time. Make sure you know how to resolve them if you ever find yourself stuck in the middle of one.
File an Appeal
If you’re having a dispute over business interruption insurance claims with an insurance company, it is likely that your initial claim has already been denied. The company should have also sent a disclaimer of coverage letter explaining the reason for your claim denial.
Read this letter to see why your insurance company isn’t honoring your claim. It might cite specific policy exclusions for your denied business service interruption claim or share other reasons for your denial.
If you don’t agree with these reasons, you maintain the right to file an appeal. You can send a letter to the company highlighting why you believe your insurance claim should be approved. This company is legally obligated to demonstrate good faith by reconsidering your initial claim.
Force a Negotiation
Do you feel ill-equipped to appeal denials during disputes over business interruption insurance claims? You may want to think about hiring an experienced business interruption attorney who understands the ins and outs of appealing these claim denials.
You might also consider hiring a lawyer who can force your insurance company to negotiate further in good faith over a business interruption claim. An attorney can examine your case and present an even stronger claim to an insurance company while fighting for a fair settlement on your behalf.
Simply bringing a lawyer on board to provide legal representation will show an insurance company you mean business and don’t plan to back down. This will also improve your chances of working out a settlement during negotiations with an insurance company and prevent you from having to file a lawsuit against it.
Take Legal Action
If you hire a lawyer to help negotiate for you during disputes over business interruption insurance claims, your insurance company still won’t budge, buckle down, and take legal action. An attorney can file a lawsuit alleging a breach of your insurance contract on the part of the company. They may also go as far as to allege a breach of the duty of good faith and fair dealing by the company.
Some insurance companies choose to end disputes over business interruption insurance claims once they’re served with legal documents. Yours might be more willing to settle your case when you hire a reputable lawyer to file a lawsuit.
Let Us Lend a Hand With Complicated Business Interruption Insurance Claims
Disputes over business interruption insurance claims are quite common in Texas. If an insurance company denies a business interruption claim and you don’t have any other contingent coverage to cover costs, consider hiring a lawyer to help with your case.
McLaurin Law PLLC can provide a trusted attorney to handle any dispute you may be having with an insurance company. Give us a call at 713-461-6500 today to arrange a consultation.
