Business Interruption Insurance claims are here to support you and your business when you need it the most. We understand that 2020 was an extremely difficult year for business people all over the UK. Covid-19 has thrown the world on its head. Within four months of its arrival, businesses all over the UK were asked to close in a nationwide lockdown. Since then there have been a number of schemes put out to support business owners, however, many people have been struggling to get a valid pay-out from their insurers. This is because Covid-19 and the unprecedented lockdown were most likely not included within your policies.
We understand if you feel a little unsure about what to do if you have already tried to claim business interruption insurance only to be rejected. This is where Gowing Law’s experienced solicitors can step in to support you. We have corporate solicitors and forensic accountants available to go through your contract with a fine-tooth comb. If they see that you have a valid claim for compensation, they will make sure you get the pay-out you deserve. In some cases, you could be owed £10,000s!
With over 700 policies now eligible to get you a pay-out, you could be missing out if you do not make a claim. Call us up today on 0800 041 8350 or visit our Business interruption insurance claim page below.
Can I make a business interruption insurance claim about Covid-19?
If you have recently opened a business, you will want to keep that business as safe as possible. You cannot predict every disaster that will happen in your shop. For instance, if a work accident occurs or one of your customers gets hurt, you can use your employer’s liability insurance. However, if a bigger disaster happens then you will need the right insurance to recover from the damages. This is where business interruption insurance can help you recover any losses that you have experienced. It is especially useful for those who have lots of stock that may need to be replaced in the event of a disaster.
Here are some examples of what your business interruption insurance can be used for. Don’t forget that you can also ask your solicitor for more information on what you can use your claim to finance.
Now, originally, you may have had trouble actually receiving a pay-out because of the pandemic. It is true that you had to shut down your business for the lockdown and the pandemic, but these clauses may not actually be written into your contract. This is where your insurer may have originally tried to stop you from receiving your pay-out. However, the Supreme Court has now stated (through a test case) that a business interruption insurance claim can have clauses that include pay-outs for losses experienced during the pandemic. You just need to understand which clauses will validate your claim.
Which clauses will make me eligible for a business interruption insurance claim?
Every contract for business interruption insurance is going to be different. After all, every business is different. That means you are going to be focused on certain problems that could affect your business and your employees. You want to keep them safe. If they are off work then this could affect how much your business earns and the overall income of the company. For instance, if you have a lot of expensive products that belong in a warehouse, you may want to focus mainly on criminal activity and pay-outs about stolen stock. However, if you want to claim for any damages caused by the lockdown and Covid-19, there are three clauses in specific that are going to help you. These include the:
According to a report from the FCA about these clauses (and the outcome of the FCA trial case), it is possible that:
“The ‘disease’ and ‘prevention of access’ clauses in the representative sample of 21 policy types provide cover in the circumstances of the coronavirus (Covid-19) pandemic, and that the trigger for cover caused policyholders’ losses.”
This shows that if you have either of these clauses, or at least a hybrid clause of the two together, you could get a pay-out. However, it does not mean that you get an automatic win. You will need to provide evidence to show how your business was affected by the current climate and lockdown of the UK.
Evidence may include:
- Marketing Forecasts/Reports
- Proof of your income
- Proof of your expenses
- Reports from workers/employees
- News & Trend updates
Having a solicitor on your side can help you distinguish what you could eligible to claim in terms of a pay-out. It will also help you avoid any pitfalls in terms of a lack of evidence. If you are unsure about how you can make a claim, or if you are eligible for a pay-out, a lawyer can provide you with the best advice possible on how to move forward.
How can a solicitor help me with my business interruption insurance claim?
Here at Gowing Law, we understand that you may be feeling anxious or unsure about how to proceed with your claim. Getting to grips with any sort of insurance contract can be difficult, and with the current stress of the pandemic, you may be struggling to find the time to balance your business as well as an insurance claim. You can use a broker or your insurer to learn more about your eligibility for this type of claim, but we would honestly recommend seeking the advice of an experienced solicitor.
Your business interruption insurance claim solicitor can go through your policy carefully to check for your eligibility and the type of policy you have. As the Supreme Court’s decision is still quite new, you may feel unsure about what it means as a whole and what the new policies are all about. That’s why it’s a good idea to have a legal specialist do this for you. Gowing Law’s solicitors keep updated about the latest information about these types of claims, and how any changes could affect your case.
We can also help you challenge your insurer on your behalf. You may feel defeated if you have already tried to make a claim, only to have your insurer reject you. This is where we can step in to speak to your insurer about their decision. Your solicitor can spend time going through your claim to make an argument that will validate your claim. We can even go to court to get your settlement negotiated quickly and efficiently.
Can a solicitor help me with my claim if I get assistance from the government?
Throughout the pandemic, you may have been seeking assistance from the government in order to sustain your business. It is completely understandable if you have decided to move online and ask your employees to remain on furlough throughout the pandemic. Even if your business remained open, but you needed to implement strict social-distancing regulations to keep it safe, you could make a claim with the help of an experienced solicitor.
Having a Corona Virus grant from the UK government will not change the fact that you need the financial aid to sustain your business. The government will be completely aware that you are trying to make a case against your insurer. So, don’t worry! Your solicitor will make sure to work on your behalf to ensure you get the pay-out that you deserve. They can even contact your insurer on your behalf if they have already rejected you for a pay-out.
Will a solicitor charge me if they help with my business interruption insurance claim?
As Gowing Law’s team work on a “no win-no fee” basis, that means they will never charge you for their services unless they win you your pay-out. There will be no hidden fees and they will always talk about any charges upfront. That means you will always come out on top. If our solicitors do help you collect a successful pay-out, the fees that they will ask for will be 25% + VAT of any money that you receive from your insurer.
How much could I get from my pay-out?
Honestly, this is a question that cannot be answered. This is because every claim’s case is different and the circumstances will affect your overall pay-out. For instance, if you have experienced damages from Covid-19 and the lockdown, as well as a break-in that has affected the amount of stock you have, you could claim for more compensation than someone who needs the money to Covid-proof their office. It will also depend on the type of clauses that are in your contract. This is why it is essential to have an experienced lawyer go through your contract to ensure that you have the correct clauses that can get you a high pay-out.
How long will it take to make a claim?
Again, this depends on the type of case you have and how complicated it is. If you have been rejected for a claim, and are seeking legal guidance, it may take longer than someone who has made their very first claim. You need to be entirely upfront with your solicitor about any problems that may affect your claim. In return, your lawyer will do the same and set out a timeline of how the claim is expected to proceed. However, there may be additional delays due to the current pandemic. Be patient with your lawyer, but feel free to ask any questions!
Contact Gowing Law Solicitors today to help with your business interruption insurance claim
We understand that it can be daunting to take on any sort of legal claim. Covid-19 has changed the world and it is going to be difficult to adjust to this new normality. That’s why Gowing Law Solicitors wants to make sure that you get a pay-out that can help you sustain your business for as long as possible. We can offer you free advice and consultations on your claims. If you are happy to move forward with your claim, we can work with you on a “no win-no fee” basis. As we stated before, this means you will never need to pay a fee to our solicitors unless we win your case for you. So, what’s stopping you from getting in contact with us today?
Reach out to our law firm and call us on 0800 041 8350, email bi@gowinglaw.co.uk or use our claims checker to get started. One of our specialists will quickly get in contact to speak to you. All you need to do is fill out your contact details and we will be in touch as soon as possible.
Ready to read more about your claim?
Why not brush up on your knowledge of business interruption insurance claims by visiting our blog page? We always update our blog with the latest information about insurance, tax and personal injury claims. That way you can understand the basics before you start working with your solicitor. You can also find information about our seasonal events and updates about our law firm. If you have a question that you would like us to address through our blog, why not send in your suggestion to info@gowinglaw.co.uk? If we write about your idea, we will let you know so you can find out what our experts have to say on the issue!
You should also keep an eye on our social media feed. Not only do we have weekly videos about specific claims information, but we update our feed with information about our latest giveaways and seasonal events. For instance, we are hosting a Valentine’s Day giveaway where all you need to do is leave a review, like and tag someone in our social posts. You could win a £30 M&S pamper gift bag! You can find the links below to follow our Twitter and our Facebook.
We look forward to hearing from you soon about your Business Interruption Insurance Claim!
