Business Interruption Insurance Claim Attorneys in Chandler, Arizona

When running a business, having the right insurance coverage is crucial to protecting you and your company from potential losses and liabilities. Business interruption insurance coverage can help replace the lost income and pay for extra expenses if your company's operations were temporarily affected by a covered loss, such as property damage or theft. 

If you need assistance filing a business interruption insurance claim, consulting with an experienced Arizona insurance attorney is crucial for detailed guidance. At Arnett & Arnett, PC, we have the diligence and resources to assist and represent clients in their business interruption insurance claims. Our attorneys are here to answer your questions about how business interruption insurance works, what is covered, and the steps to take if your claims are denied. 

Our team of attorney brothers proudly serves clients across Chandler, Arizona, and the surrounding areas of Phoenix, Flagstaff, and Tucson. 

What Is Business Interruption Insurance?  

Business interruption insurance — also known as business income coverage — can be described as an insurance policy that helps replace lost income and pay for additional expenses when the business is affected by a covered risk. Such covered risks can include wind, fire, lightning, theft, falling objects, and property damage. 

For instance, if your office building was destroyed by a fire outbreak and you need to temporarily close down for repairs, the business interruption insurance policy can help cover the costs of income you lose while they restore your office. 

What Does It Cover?  

Generally, a business interruption insurance policy can cover the following items: 

• Lost income and profits 

• Employee wages 

• Missed rent 

• Fixed cost and other operating expenses 

• Civil authority ingress/egress 

• Taxes 

• Cost of replacing machinery, equipment, and retraining personnel/employees 

• Loan payments 

• Additional expenses 

Most importantly, ensure that you read your business interruption insurance policy documents to know the terms and provisions of the coverage and the perils and items that are covered. 

What Is Not Covered?  

It’s also important to know what may not be covered by your business interruption insurance policy. Examples include: 

• Undocumented income that is not listed in the financial records of your company 

• Damages due to earthquakes or floods – there is a separate policy for them 

• Viruses, pandemics, or communicable diseases 

• Lost or broken items due to a covered risk or event 

• Utilities 

An experienced attorney can review the terms and provisions of your business interruption insurance policy and help file your claims. 

What to Do If You Receive a Denial  

Many businesses across the United States were affected by the COVID-19 closedowns and interruptions. Unfortunately, policyholders who filed business interruption insurance claims had their claims denied. In fact, some insurers released announcements stating that coronavirus-related business interruption claims were not covered under the business interruption insurance policy. 

Generally, insurance providers usually exclude certain risks and losses that can happen to several policyholders at the same time. The major reason for claims denial is to avoid a collapse of the insurance industry due to the overall cost that may be incurred by settling all claims. If your claims were denied, you need to retain a strategic insurance attorney to review your policy, help enforce your rights to coverage, and seek your deserved compensation. 

How an Experienced Insurance Attorney Can Help 

Business interruption insurance policies are available to protect your company against certain covered perils that hinder your business operations. In the event of a temporary business closedown, you can have the peace of mind that your lost income and other additional expenses will be covered. An experienced insurance attorney can enlighten you about your options and help you navigate key decisions. 

At Arnett & Arnett, we're dedicated to guiding clients through the complex procedures of filing business interruption insurance claims. As your legal counsel, we can evaluate your business's needs and determine the adequate coverage for your company. Even if you need help filing a claim or appealing a claim's denial, our attorneys can advocate for your best interests and guide you through the required legal procedures.