It’s devastating enough for your property to suffer fire, flood or theft, but far worse if the property is also your livelihood. If you suddenly lose either the property itself or any assets it contains, such as stock or machinery, it could mean the end of your business.
Fortunately, you have the option of taking out business interruption insurance. This provides cover till your business has recovered to where it was before the disaster. It enables you to recover losses to your gross profits, while also covering any additional costs — renting temporary premises, for instance.
There can still be problems with your insurance claim, though. You could find that the indemnity period on your policy isn’t long enough for you to cover your costs, or that your business is underinsured. These and other factors may mean that the insurer’s Loss Adjuster won’t award you the full amount you need — and that can be as devastating as not having cover at all.
How Can a Loss Assessor Help You?
Even if you’ve made sure your business interruption insurance is accurate and up to date, there are plenty of pitfalls you can encounter in making your insurance claim. And this is where using an independent Loss Assessor can be the difference between whether or not your business survives.
A Loss Assessor provides you with help that’s at least as expert as the insurer’s Loss Adjuster, whose job includes finding legitimate reasons not to pay you. The Loss Assessor will help you compile a detailed claim that accurately calculates your loss of profits. This will be based on an realistic projection of how your business would have performed over the relevant period, drawn from recent performance and genuine forecasts.
Loss of business through a disaster is always going to be a trying time, but you can recover from it if your business interruption claim is properly handled. Why not get in touch with us to see how we can help you?