Business Interruption Insurance Claims Experts: Guiding You Through the Process
At CCMI, we specialize in providing expert support and assistance to individuals and businesses dealing with loss of business income claims. Our team of seasoned professionals is dedicated to helping you navigate the intricacies of the claims process. We’re here to serve as your advocate, ensuring you receive the maximum insurance payout for your business income loss-related losses.
“Dealing with the aftermath of Hurricane Ian has been a challenge. Century is continuing to walk us through the long process. Roberto has been great at keeping me informed and readily available for questions. The journey continues but I am glad to have Century representing me in my Ian claim.”
— Aura Brooks
Understanding Loss of Business Income Claims
For Businesses of All Sizes
Types of Business Income Loss
Various factors can lead to a loss of business income, and this can affect businesses of all sizes. These factors may include natural disasters, property damage, supply chain disruptions, and more. Gaining a comprehensive understanding of the specific causes and types of income loss you may encounter is the initial step in evaluating your insurance coverage and initiating a thorough loss of business income insurance claim.
Common Insurance Policies
Businesses often rely on insurance coverage to safeguard their assets and operations. We meticulously review your insurance policy, including business interruption insurance or any other relevant coverage. Our experts will help you assess your losses in relation to your coverage.
Inclusions and Exclusions
Insurance policies come with distinct coverage limits and exclusions that can vary significantly between policies and providers. We delve into the specific coverage components that may apply to your situation and elucidate potential exclusions that you should be mindful of. Understanding these details is crucial in ascertaining the scope of your claim and ensuring you have adequate protection.
Demystifying the Claims Process
Navigating the claims process following a loss of business income is essential for business owners. We offer an in-depth explanation of the typical stages involved in initiating a business income loss insurance claim. This encompasses the initial assessment, meticulous documentation, claim submission, and preparing you for negotiations with your insurance company during the claims settlement process.
Commonly Covered Items for Loss of Business Income Claims:
- Loss of revenue due to business interruption caused by covered perils.
- Costs associated with temporary relocation or alternate business operations.
- Additional expenses incurred to minimize the loss of income.
- Expenses for extra staffing or outsourcing to maintain business operations.
- Rent or lease payments for business premises.
- Loan or debt repayments related to the business.
- Taxes, including payroll and property taxes.
- Loss of contracts or customers due to the business interruption.
- Marketing and advertising costs to rebuild the business’s customer base.
- Increased costs of doing business during the interruption period.
By reviewing your specific insurance policy, we can pinpoint the precise coverage offered and any potential limitations or exclusions that may apply to loss of business income-related claims. Coverage can significantly vary depending on the policy and the insurance provider.
