If your business is interrupted, your loss of business income policy will cover:
Hurricanes are unique in their ability to cause a plethora of damage in a short amount of time:
- The amount of net income you would have made during that time
- The cost of normal expenses, such as rent
- The cost of payroll, if your employees are still working for you during the interruption of business
- The expense of moving your business to a temporary location
If you have suffered an interruption of business, the first thing you should do is to hire a public claims adjuster, such as Rapid Public Adjusters. As your public insurance adjuster, we work for you rather than the insurance company. Our process is as follows:
- Initial assessment: We meet with you to evaluate, document, and photograph the damage, review documentation, and assess the loss of business income.
- Expert assessment: We bring in experts as needed to determine the extent of the damage, the estimated completion date of any work that needs to be done, and the amount of loss to your business.
- Claims process: We prepare the claim, submit the paperwork, and deal directly with your insurance company.
Tips for Dealing with a Public Adjuster
Never worked with a public adjuster before? Here are a few tips for a smooth assessment and claims process.
- Call a public adjuster as soon as possible, preferably shortly after the damage, to get the damage claim rolling.
- Have your loss of business income policy paperwork ready.
- Provide documentation that will support your loss of business income claims, such as proof of income, rent, utilities, payroll, and any expenses related to moving your business to a temporary location.
- Remember that the damage claim is typically assessed following the damage, whereas loss of business income is processed once business resumes and the amount of loss can be determined.