How to Calculate Damages after the Storm

If you own a business and suffered damages from Sandy, contact an experienced attorney today to help you understand and enforce your legal rights. It is important to act now, as time to pursue claims may be limited.

Figuring out what a policy covers and what the deductible should be is only the first step in successfully making a claim for damages with an insurance company. The next step is how to figure out damages. Business losses are notoriously difficult to calculate. There is often an element of fortunetelling involved. Owners and insurance companies are likely to sharply disagree on how the losses should be calculated and over what time. If the business shut down in advance of the storm are those losses covered? Many policies may have specific formulas that are to be used in calculating business damages, but the language may not be clear or may be completely unreasonable. Insurance regulators and courts may have made specific rulings favorable to a policyholder that will not be found in the text of the policy.


Insurance companies are a business and want to maximize profits. This means that they want to settle claims for as little as possible. Insurance companies drafted the policies with a team of professionals. Business owners should not try and negotiate the insurance maze alone. Successful insurance claim resolution in a timely fashion may spell the difference between continuing forward and closing up shop. If you own a business and suffered damages from Sandy, contact an experienced attorney today to help you understand and enforce your legal rights. It is important to act now, as time to pursue claims may be limited.

 
If you need assistance in assessing your Hurricane Sandy insurance policy, or believe the insurance companies are trying to avoid paying their full and fair obligations, the lawyers at Slater Slater Schulman LLP are available to assist you.  A consultation with our insurance lawyers is free.   Call us at (800) 251-6990 or fill out the form on this page, and an insurance attorney will get back to you shortly.
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