Has your business lost money due to a natural disaster? Did Hurricane Irma, Hurricane Florence or Hurricane Michael affect your bottom line? Have you considered filing a claim with your insurance company for your lost income? If you have a downtime endorsement on your policy, you may have coverage.
Businesses cannot run without electrical power. When the power goes out, downtime happens and productivity disappears. Without electricity, large financial losses add up quickly. Doctor offices, retail stores, restaurants, service professionals, and warehouses all need electricity. They cannot provide goods and services without it.
Web sites may go down and customers are unable to order goods and services. Remote employees may not be able to log into networks and do their work. This further reduces productivity and damages the bottom line of a business.
Data may vanish due to unplanned power outages and power surges. Be sure to back up your equipment in several ways in case computer servers lose power and corrupt data. IT employees and outside vendors may need to work extra hours to get your business back up and running. Does your insurance policy cover these added expenses to recover the data? Does your insurance policy cover the period of restoration needed to get back to business?
Consider contacting an attorney to review your insurance policy. That attorney will review the policy for business interruption coverage. Your insurance company may label it as “Utility Interruption – Loss of Income,” Dependent Property – Loss of Income,” or “Loss of Income and Extra Expenses.” If you have downtime coverage, the attorney will carefully calculate your income losses and file a claim.
There are many ways to calculate a business loss. Some methods of computation are more advantageous than others. Oftentimes, businesses attempt to calculate claims on their own, but are they asking for all they could be?
If you’ve been denied coverage or underpaid for a loss, consider hiring a law firm to assist in the calculation, negotiation and settlement of your claim. Eckert & Associates, PA has years of experience in calculating business losses. We are happy to assist your business through this trying time. We will work hard to get your claim paid timely and correctly.
Kelsea Eckert enjoys helping clients resolve their insurance and downtime claims. She is active in the trucking community and is always willing to speak with groups about transportation topics.
Kelsea was raised in the Bloomington, Illinois area and has practiced law since 1988. She lives in Florida and Kentucky, representing clients across the United States.
Over the years, she has written numerous books, including: The Illinois Legal Filing Directory, Small Claims Court Without a Lawyer, How to Form Your Own Corporation, Getting Paid in Full, Lawsuits of the Rich and Famous, and Selling Internationally, Without a Product.
Kelsea regularly speaks at trade shows, podcasts, and radio shows on transportation issues. She writes articles for newsletters, magazines and the Eckert & Associates, PA blog. Some of her writings and interviews are available on Transport Topics, Landline Media, Expediters Online, Service Truck Magazine, and other transportation media networks.
Kelsea attended Illinois State University and University of Georgia during her undergraduate years. She graduated from Southern Illinois University School of Law. She is a member of the Illinois Bar and Florida Bar.
Kelsea is on the board of the Transportation Club of Jacksonville as the Driver Advocate Chair. She is involved in her community through volunteering, and she and her husband have two amazing children.