As the COVID-19 pandemic continues to sweep across the country, thousands of Michigan business owners have been hit by lasting economic losses – or been forced to close their doors due to government mandates. Although many business owners regularly pay for commercial insurance policies to protect themselves against disasters like COVID-19 insurers may be reluctant to pay out full coverage for coronavirus-related claims.
If you have business interruption insurance coverage, there is a possibility that you could replace any income lost during the COVID-19 pandemic. Even if your insurance policy explicitly excludes damage caused by bacteria, viruses, and other microorganisms, there could be other terms in your policy that make you eligible for coverage. At Grewal Law PLLC, our Michigan business interruption insurance attorneys can provide an in-depth reading of your policy, and apply over 100 years of combined legal experience to help you file a claim.
Contact us at (888) 211-5798 or submit our online form to get started with a free consultation and policy review!
What Is Business Interruption Insurance?
Business interruption insurance is commonly included as part of property-casualty policies, and it can often be a part of more comprehensive business insurance policies as well. Business interruption insurance is most frequently used to cover losses from natural disasters – such as fires, floods, and accidents – and can cover the cost of repairs, lost revenue, and other expenses incurred during a disaster. Because it is not a separate insurance policy, some business owners may not even realize that they have this coverage.
Depending on the terms of your policy, business interruption insurance may entitle you to receive compensation for the following:
- Lost revenue
- Property loss and destruction
- Cost to clean and sanitize
- Cost of property repairs
- Travel expenses
In most cases, the terms of your business interruption coverage will limit losses to those caused by a set of “covered perils” or pre-defined disasters. In the wake of the SARS outbreak in 2003, many insurers also added a “microorganism exclusion” designed to prevent owners from making claims related to a virus. This does not necessarily mean you are barred from coverage for the coronavirus: Rather, it means you will need the assistance of a skilled insurance law attorney to understand if you are eligible for a claim.
For example, some policies will include civil authority coverage, which covers losses related to executive and government orders. If you live in an area with a COVID-19 “shelter in place” or “stay at home” order, you could be eligible for compensation when your business was deemed as non-essential and forced to close down.
Experienced Counsel for Your COVID-19 Claim
When it comes to filing your COVID-19 business interruption insurance claim, you will likely benefit from the counsel and assistance of an experienced attorney. This is both because insurance contracts can be incredibly difficult to navigate and because insurers are actively rejecting many COVID-19 claims right now as they strive to maximize profits.
At Grewal Law PLLC, our Michigan attorneys have been helping clients interpret complex insurance policies for several decades. By offering free reviews for business interruption insurance policies, we hope to help struggling business owners during this difficult time, using our expertise, knowledge, and experience to do so.
Give us a call at (888) 211-5798 today for a free, no-obligation consultation with our legal team.