As a business owner, insurance coverage is one of the best tools you have available to mitigate against the risk of loss from unexpected disasters and liabilities. But, how do you decide what type(s) of coverage do you need, and how do you make informed decisions about filing claims under your business insurance policies? These articles from the insurance claim lawyers at Saavedra | Goodwin provide some practical insurance tips for business owners in Broward County and throughout South Florida:
1. Does Your Company Need Business Interruption Insurance?
Business interruption insurance can provide security against loss of revenue when your business (or a portion of your business) is forced to close due to a catastrophic event. In Does Your Company Need Business Interruption Insurance?, we provide a list of resources for valuating your company’s business interruption insurance needs.
2. Three Types of Business Interruption Insurance Coverage
There are three primary types of business insurance coverage: basic, extended and contingent. Learn about the different options – including benefits and limitations – in: The Three Types of Business Interruption Insurance Coverage.
3. Understanding Your Business Interruption Insurance Policy
Business interruption insurance policies use different terminology and rely on different concepts than standard liability policies. You can use this glossary to learn more about the coverage provided by business interruption insurance.
4. Filing a Business Interruption Insurance Claim
Filing a business interruption insurance claim involves some unique considerations as well. In Seven Tips for Filing a Business Interruption Insurance Claim, we provide a checklist for maximizing the benefits of your coverage.
5. Documenting Lost Revenue for a Business Interruption Insurance Claim
One of our seven tips in the previous resource is, “Document Your Expenses and Lost Income.” We expand on this critical step in: Documenting Lost Revenue for a Business Interruption Insurance Claim.
6. Hiring a Qualified Business Property Insurance Adjuster
When you file a business interruption insurance claim, the details matter. In order to maximize your coverage, you will likely need the assistance of a qualified business property insurance adjuster. See some examples of the benefits of hiring an experienced independent adjuster.
7. Shifting Gears: Umbrella Insurance Coverage
While business interruption insurance is important, it is by no means the only coverage that business owners need to consider. In Protecting Your Assets with Umbrella Insurance, we discuss the benefits of umbrella liability coverage, including types of losses that are generally excluded from other types of business policies.
8. Three Tips for Assessing Your Company’s Insurance Needs
Assessing your company’s insurance needs involves two primary questions:
- What types of coverage do you need?
- What policy limits will provide adequate protection?
We provide three tips for answering each of these questions in: Insurance Tips for South Florida Small-Business Owners.
9. and 10. Seeking Legal Representation for Business Insurance Claims
Finally, when it comes to dealing with your insurance company for a business interruption or other business loss, it will often be necessary to engage experienced legal representation. If you are preparing to file a claim, or if you are struggling to deal with your company’s insurer, we encourage you to read:
- 7 Signs You Need a Lawyer to Handle Your Insurance Claim
- How Can a Lawyer Help with Your Insurance Claim?
Speak with an Insurance Claim Lawyer at Saavedra | Goodwin
With offices in Fort Lauderdale, the attorneys at Saavedra | Goodwin represent businesses in insurance matters throughout South Florida. To speak with an attorney in confidence, please call (954) 928-9568 or request an appointment online today.