Tampa Business Interruption Insurance Lawyers

What Does Business Interruption Insurance Look Like?

Typical business interruption coverage looks something like the following:

Business Income

(1) We will pay for the actual loss of “Business Income” you sustain due to the necessary suspension of your “operations” during the “period of restoration.” The suspension must be caused by direct physical “loss” to property at the described premises, including personal property in the open (or in the vehicle) within 100 feet, caused by or resulting from any Covered Cause of Loss.

(2) We will only pay for loss of “Business income” for a maximum of 12 consecutive months after the date of direct physical “loss.” This Additional Coverage is not subject to the Limits of Insurance.

Extended Business Income

If the necessary suspension of your “operations” produces a “Business Income” loss payable under this policy, we will pay for the actual “loss” of “Business Income” you incur during the period that:

(1) Begins on the date property, except finished stock, is actually repaired, rebuilt or replaced and “operations” are resumed; and 

(2) Ends on the earlier of:

(a) The date you could restore your “operations” with reasonable speed, to the level which would generate the “Business Income” amount that would have existed if no direct physical “loss” or damage had occurred; or

(b) 30 consecutive days after the date determined in h.(1) above.

However, Extended Business Income does not apply to “loss” of “Business Income” incurred as a result of unfavorable business conditions caused by the impact of the Covered Cause of Loss in the area where the described premises are located.

Loss of “Business Income” must be caused by direct physical “loss” or damage at the described premises caused by or resulting from any Covered Cause of Loss.

If you have suffered a loss of business income under the business income or extended business income section of your coverage, our Tampa business interruption insurance lawyers may be able to assist you. Chris Ligori & Associates has secured millions in compensation from insurance companies. We are committed to fighting for your best interests throughout the legal process.