Deerfield Business Interruption Claims Adjuster

A commercial facility can obtain various types of insurance, including business interruption protections, to shield from the financial strain that comes with additional expenses, decreased capacity, or property damage. Local businesses are the heart of any community, and extensive insurance protection is one of the only outlets for comprehensive financial recovery, so this kind of insurance can play a big role in preserving a community through periods of large-scale closure.

The primary role of a Deerfield business interruption claims adjuster is to oversee the process of filing and settling a claim to maximize benefits for the policyholder. Many policies contain hidden and impactful language that a public adjuster can dissect in your interest, ensuring that your insurance representative doesn’t exclude any qualifiable coverage. 
A business interruption insurance claims adjuster is a call away. Live claim experts from Pinnacle Claim Services are standing by to help you schedule a no-obligation initial consultation when you call 954-466-2954 or contact us online.

Deerfield Business Interruption Claims Services Adjuster Can Provide Comprehensive Support Through Financial Recovery

Filing a business interruption claim that utilizes the full extent of your policy benefits will require highly detailed management, and a public adjuster can protect your claim by providing the following: 

• Analysis of financial records: The representing adjuster from your BI insurance carrier will want to compare the financial health of the business pre-interruption to the current state of the facility in order to paint a clearer picture of the extent to which the interruption affected operations. Your public adjuster can provide a critical analysis of your business’s financial records and provide insight into how it can affect the outcome of your claim. 
• Policy and claim review: The final settlement that you may walk away with as a business interruption claimant will heavily depend on the coverage that applies to the current BI claim. Even ‘full-coverage’ policies require a thorough evaluation of benefits before a settlement can be negotiated, as important details surrounding how, when, or where the interruption started may impact the outcome. 
• Representation during settlement negotiation: Finalizing a settlement can be nerve-wracking for an insurance claimant, especially when they have limited experience with valuing the tangible and intangible damages that can affect a business in an insurance setting. A Deerfield public adjuster can speak on a claimant’s behalf through this process and provide guidance regarding any settlement offers.  
• Customized recovery plan: Your adjuster will work closely with your business to formulate a realistic reopening plan that will help you move closer to your goals for the future. Using developed strategies and industry insights, you and your public adjuster can build a confident roadmap for future operations.  
• Client advocacy: In the event a portion or all of your business interruption claim is disputed by the insurance representative, your public adjuster can advocate for your policy benefits and help you understand what your options are moving forward. 

What Is Business Interruption Insurance

Business interruption insurance, or a BI policy, is a type of coverage that can offset the expenses a business may face due to a temporary halt in normal operations. 

A business that has to shut its doors or decrease service capacity can file a claim with a BI policy carrier. This coverage may be connected to other insurance for the property, so it is critical to conduct a thorough investigation of your policy documents before assessing what may be covered.

A business interruption insurance claimant must be aware of the extent of their coverage, any exclusions that may apply, and the maximum indemnity period.  

Notably, only 30%-40% of businesses carry interruption insurance. This type of policy can be crucial for recovery after a pause in functionality; BI insurance is designed to aid a business in financial recuperation and regain stability when unforeseen circumstances strike. 

A Deerfield business interruption claim adjuster can help you better understand your BI policy and what benefits you should be utilizing in your current claim.      

What Damages Are Covered In a Business Interruption Policy?

Not all business interruption policies are written the same; having an adjuster review your insurance policy is the most accurate way of understanding what coverage will apply to your current claim, but standard protections can include: 

• Immutable expenses like the cost of wages, loan repayments, and rent/lease payments
• Lost income due to the pause in the facility’s operations 
• Losses caused by damage to the property
• Losses created by events that prevent access to the building 
• Vendor or contract payments
• Temporary or permanent relocation costs

What Usually Is Not Covered in a Business Interruption Policy?

Some damages will not be claimable under your business interruption insurance. Most policies will not cover: 

• Pre-existing business interruption
• Undocumented expenses or damages
• Government actions like foreclosure
• Voluntary closure
• Utility failures off the property 

Consider These Costs When Choosing a Deerfield Business Interruption Insurance Claims Adjuster

Every policy is different, but the confusing jargon and drawn-out pages can make understanding your policy a tedious task. While a public adjuster is tasked with helping you maximize the benefits of your current claim, another resource you gain is a thorough explanation of what your policy truly entails.

An adjuster can help you understand what hidden benefits you have and the extent to which your policy covers certain damages. 

Specific coverage will vary depending on the language in your policy, but you may have expanded benefits for certain damages, such as: 

• Extended losses: When the facility eventually reopens, a business may face a challenge in keeping up with expenses due to factors like slower operations and backed expenses. Coverage for extended losses will provide a business owner with the financial resources to offset some of the expenses related to reopening.  
• Continuing expenses: Even when a business has temporarily closed its doors, expenses can still add up. Continuing expenses insurance coverage will protect a business as it reopens, providing coverage for ongoing expenses like rent, taxes, utilities, etc. 
• Extra expenses: Every insurance policy is written differently, and a claim adjuster is skilled in dissecting these specific documents for hidden clauses that may provide impactful benefits. Coverage for extra expenses refers to the miscellaneous add-on benefits that your policy contains, including but not limited to relocation, inventory, and staffing.  

What Events Are Generally Covered by Business Interruption Insurance?

Many exterior factors that a commercial property owner has no control over can become detrimental to the operations of their business. Without interruption coverage, a business may be expected to take on additional expenses for damage recovery, loss of revenue, utilities, etc. These costs can ultimately lead to a permanent closure. 

The Federal Emergency Management Agency (FEMA) reports that 40% of businesses cannot sustain the costs of reopening after a natural disaster. Depending on the policy, business interruption coverage can protect a business from shutting its doors due to many external factors.  

A standard business interruption policy may reimburse a business owner for losses relating to the following expenses: 

• Physical damage to property 
• Natural disasters like tornados and hurricanes
• Intense storms
• Other weather damage
• Pandemics, viruses, and other transmissible diseases
• Closures due to government ordinances
• Closures due to repairs 
• Theft and vandalism
• Utility failures
• Equipment failure

Tips for Filing an Initial Business Interruption Claim

Navigating the process of a business interruption claim can be complex, but a business owner can adhere to the following steps in order to safeguard the foundation of their claim:

• Notify the insurance company immediately: Once you identify damage, become aware of a scheduled closure, or suddenly pause operations, you should promptly contact your BI insurance carrier. Waiting to report can lead to complications further down the line, such as your insurance denying part or all of the claim.  
• Concise documentation is the foundation of your claim: The only damages a claimant can recover in a business interruption settlement must be provable through clear documentation. Keeping an organized record of all finances is critical for efficiently filing a claim. Financial statements, profit and loss margins, payroll records, and other documentation may be relevant. 
• Call a claim adjuster: The hired adjuster that settles your BI claim likely has years of experience and familiarity with the process, but the only potential problem with solely relying on their word is that they don’t really work for the policyholder. These representatives work for your insurance company, and their interests may be different from yours. When you hire your own Deerfield business interruption claim adjuster, you can be confident that you have an ally throughout financial recovery.    

Retain Deerfield Business Interruption Claims Adjuster Services From Pinnacle By Calling Today

Pinnacle Claim Services is a leading Florida adjusting firm that has spent years dedicated to combatting the undervaluation tactics of insurance companies. Most insurance claimants will only handle a few claims within their lives, which can make the experience all the more confusing and unique each time, but Pinnacle adjusters will see countless claims every year.

This extensive experience and industry knowledge can be invaluable for a property owner filing a Deerfield business interruption claim. 

Retaining the aid of a Deerfield public adjuster begins with a phone call. Pinnacle Claim Services has live claim experts standing by 24/7 to help you schedule an initial consultation where you can personally discuss the upcoming legal process with a claim services professional. 
To meet with a public adjuster about your business interruption claim, call 954-466-2954 or contact us online today.