Small & Midsize Business Owners: How to Handle Denied Restitution From Your Insurance Provider During COVID-19

If your small or midsize business has been impacted by the effects of the coronavirus, you should be able to receive assistance from your business interruption insurance policy.

Read on to learn what to do if your claim has been denied.

Check Your Policy

If your business interruption insurance claim was denied, it’s a good idea to take a look at your policy, if you haven’t already. When going through your policy, you should make sure that interruptions due to viral infections are included within the policy. Even if viral infections aren’t explicitly included in your policy, as long as they’re not specifically excluded, you should have a viable claim.

It’s In Their Nature To Deny Claims

Unfortunately for policyholders, it’s common practice for insurance companies to deny just about every claim that’s submitted to them. That’s just the nature of the industry, given the current laws and regulations.

Even the most viable claims are often denied, so don’t be alarmed if your claim isn’t approved.

Just Because They’re Doing it, Doesn’t Make it Right

It’s shameful that insurance companies are denying valid claims during this challenging pandemic that has impacted every single person on the planet in one way or another. As our country progresses out of this difficult situation, all sorts of businesses will be vital toward jumpstarting the economy.

With insurance companies adhering to their typical claim-denial practices, not only are they threatening the livelihood of small and midsize business owners and their families, but they’re also threatening the entire U.S. economy.

What To Do

If your claim is denied and there is nothing in your policy specifically excluding viral infections from coverage, you still have options.

While you may appeal the denied claim on your own, the insurance company’s decision isn’t likely to change. In order for your appeal to have weight behind it, it’s best to secure an experienced attorney who knows how to deal with insurance companies’ shady tactics.

Here at Chute, O’Malley, Knobloch & Turcy, LLC, our attorneys are highly skilled in appealing denied insurance claims. While the COVID-19 situation is very unique, our team has helped hundreds of people with their denied insurance claims, and we can help with yours, too. Don’t hesitate to contact our office with your case right away!

Call the Naperville lawyers at Chute, O’Malley, Knobloch & Turcy, LLC today at (773) 906-4063 to speak with an attorney about your case.