Business Interruption Claims In New Orleans, Lousiana
Diligent Claims Guidance in Orleans Parish
Hurricane season routinely brings dangerous wind and rainfall to Louisiana. As a business owner, you do your best to anticipate and prepare for these severe weather events. Despite these efforts, your business may unavoidably suffer physical damages. The consequences of a hurricane or tropical storm may also force your business to close for days, weeks, or even months.
If you have filed a business interruption claim in the wake of a hurricane but are struggling to obtain compensation from your insurance provider, we can help. Our New Orleans hurricane business interruption lawyer has 35 years of legal experience and is familiar with how to effectively navigate cases involving commercial property insurance. Our team at Hammond Law Firm understands that the financial security of your business is at stake, and we will do everything possible to advance your claim.
Recovering Compensation with Business Interruption Service
Depending on the situation and the specific language of your policy, your business interruption insurance will likely cover several different types of losses. The amount you can ultimately recover will depend on the extent of the involuntary closure, the financial state of your business, and your policy terms.
Depending on the specifics of your case, your business interruption insurance policy may cover:
- Lost profits. You are often entitled to the amount your business would have earned had it been able to normally operate. Lost profits are typically estimated based on previous months’ earnings.
- Continuing expenses. You can receive compensation for continuing expenses your business incurs even though it can no longer operate. Continuing expenses are often mortgages, rent, and other expenses that you were not able to pay due to the involuntary closure. Employee wages are also frequently covered.
- Extra expense. Businesses often have to incur extra expense they wouldn't ordinarily incur, but because of the damage to their property and their attempts to reopen or relocate their business. These expenses could include rental for a new location, leasing of equipment, and any other expense that you may incur to mitigate your business losses.
The unfortunate reality is that your insurance provider will likely attempt to pay out as little as possible, no matter the severity of the storm. They may even try and deny your claim entirely.
Our New Orleans hurricane business interruption lawyer recognizes that many businesses cannot survive an extended shutdown without receiving commensurate compensation. At Hammond Law Firm, we know how to communicate with insurance companies in these situations and can serve as your fierce advocate in the aftermath of a hurricane or tropical storm. Our team can also assist you with claims that exclusively involve hurricane-related commercial property damage.