How To File A Business Interruption Claim Through Travelers Insurance in New York
October 30, 2020 in Business Interruption
If your New York business is covered by a Travelers insurance policy and you have suffered losses due to COVID-19, you may have questions about filing a business interruption claim to recoup some of your damages. Travelers sent letters to their insureds explaining that, in general, business losses related to Coronavirus are not covered under their business interruption policies. However, it is important to understand that your insurance company does not have the final say in whether your insurance policy covers your business losses.
Filing A Claim That You Know Will Be Denied
In many ways, the Coronavirus pandemic is an unprecedented event. Travelers and other insurance companies do not want to be responsible for business losses related to coronavirus, which is why they are denying business interruption claims. Travelers’ interpretation and application of their policies can, and in many cases, should be contested. If you have been told by your broker or a claims representative that your business interruption claim will be denied, you can still file a claim. Filing a claim allows you to dispute their denial and also makes sure that you do not lose your right to collect compensation for failing to file your claim within a required deadline.
How To File Your Claim
As mentioned above, your policy provides a time limit for filing your claim, so it is necessary to file your claim as soon as possible. You do not need to know the full extent of your losses, especially since there is a good chance that you are continuing to experience COVID-19 losses. Calculating total business interruption damages can be a complicated process, and financial experts are often needed to help determine the value of your claim.
You can file your claim by calling the number provided on the Travelers website or report your claim online. You should receive a claim number and claim contact after filing your claim. If you do not receive that information, you should contact Travelers again to make sure that your claim was received and to determine its status.
Contact A New York Business Interruption Attorney
You can file your claim without an attorney, but when you are dealing with an insurance company that does not want to pay your claim, you are pitted against a company with virtually unlimited resources. An attorney will help level the playing field by standing up to your insurance company and advocating for your rights.
In some cases, you may not be entitled to recover compensation for your claim, but if you have experienced a covered loss, your attorney will pursue your claim for compensation. Even if you do not know if you are covered, an attorney can help by going over your insurance policy, discussing your business losses, and evaluating your claim’s potential success.
Fighting For The Coverage That You Deserve
When you pay for a business interruption policy, you expect to be protected when your business experiences an interruption through no fault of your own. Our attorneys at Sullivan Papain Block McManus Coffinas & Cannavo, P.C., are representing clients in COVID-19 business interruption cases. We know that insurance companies have largely taken a stand against paying these claims, and we are not afraid to stand up to them to fight for our clients. Contact our New York offices for a no-fee consultation by calling (212)-732-9000 or filling out our contact form at https://www.triallaw1.com/contact/.