Business Interruption Claim

How To Get Full Compensation For Your Loss

Business Interruption Claim

Business Interruption Claim is not easy to assess and substantiate, especially for someone who does not have any business claims experience.

Here are a few tips to help you successfully file a Business Interruption claim that gets approved quickly and will hopefully get the highest settlement possible.

Ensure Everything is Documented

Take photos and videos before you begin any clean-up operation or repairs.  This is proof of the original full extent of the damage and can be used to demonstrate and represent the truest and fullest extent of the damage

Make Initial Repairs

You will probably need to make some initial repairs.  These could be to protect your property from further damage and for health and safety reasons.  It is essential that you save any of the damaged parts as they may need to be examined later.  Keep all receipts in relation to any repairs as these can be reimbursed and form part of the final settlement figure.

Understand your Insurance Policy Business Interruption Extension

This is critical.  You should be fully aware of what your policy covers e.g. specific endorsements, warranties or exclusions.  Being clear on this before you contact your Insurance Company or Loss Adjustor will save a lot of time and ensure there is a flow of consistent information which may affect any future decisions.

Be aware that most Business Interruption covers have a “material damage proviso”.  In other words, there must be a material damage loss and policy liability under the “property damage” section before the “business interruption” section can come into operation.

Compile a Preliminary Insurance Claim

Assessing the impact of a Business Interruption is challenging and complex for a number of reasons:

  • how long will repairs take ?
  • how the loss will be quantified ?
  • how successful the loss mitigation will be?

So, it may be useful to prepare a preliminary of loss.  This should be carried out in the first 30 days and clearly marked as “preliminary” to avoid any confusion.  It should be updated as and when further information becomes available.

Present a Solid Business Interruption Case

Be proactive from the start.  It is not enough to just fill out forms and answer questions.  It is YOUR business, and no one knows it better than you.  Make sure assumptions are not being made as it could diminish your settlement figure.

  • Ensure all losses are documented, at the very least:
  • your business income before and after the loss;
  • expenses relating to the temporary operation of your business during the interruption;
  • regular expenses that are not negotiable e.g. mortgage, suppliers, tax, insurance, etc;
  • inventory of damaged or destroyed items;
  • receipts relating to temporary repairs.

It goes without saying that the more detailed your claim is, the quicker the process, and the more accurate your settlement will be.

Maintain Contact with the Insurance Company

It is important to build a positive, efficient and transparent relationship with your insurance company.   Ensure they are aware of all matters relating to the interruption including any concerns you have.

Track all communication – keep copies of letters and emails and request documents in writing to avoid misunderstandings.

Stand your Ground

Due to the complexity of Business Interruption claims, ambiguities may arise.  Be prepared to take an assertive stance if you do not agree with the interpretation of the claim, and do not sign any settlement without fully understanding the details of what it is offering.  It is important that you don’t feel pressured at any point into settling quicker or for less money than you feel you deserve.

Final Thoughts

Business Interruption claims are rarely straightforward, and you may wish to pass the management of your claim to a professional loss assessor who can take care of all of the above ensuring that your claim is comprehensive and that you receive your full entitlement.  At Insurance Claim Solutions we are experts in managing your claim from start to finish so you can focus on getting your business back on its feet.

Trevor Kelly SCSI, BDMA, CIP, DIPLA 0863571713

Contact Details

Insurance Claim Solutions
Golf Rd, Rush, Co. Dublin

Mobile: 086 357 1713
Phone : 01 870 9210

We are registered as Public Loss Assessors and fully regulated by the Central Bank of Ireland

Google Reviews

Custome Reviews
Karl Spratt
Karl Spratt
16:47 28 Nov 22
Recently had a bad leak in our upstairs bathroom, I was recommended Trevor from Insurance Claims Solutions. The best thing I ever did, Trevor and the Team at Insurance Claim Solutions made everything hassle free, they dealt with all aspects of our claim. Trevor is an exceptional insurance agent who is prompt, efficient, knowledgeable and friendly. Trevor guided my through the process ensuring the outcome for me was his priority. 100% recommend Trevor from Insurance Claims Solutions, if I could give him more than 5 stars I would!
Susie Webster
Susie Webster
12:35 03 Nov 22
Recently had a bad leak in my bungalow, was recommended Trevor from Insurance Claims Solutions. The best thing I ever did, Trevor is an exceptional insurance agent who is prompt, efficient, knowledgeable and friendly. Trevor guided my through the process ensuring the outcome for me was his priority. 100% recommend Trevor from Insurance Claims Solutions, if I could give him more than 5 stars I would!
N roy
N roy
19:20 23 Oct 22
Trevor was recommended to us only 4 weeks ago. We had a leak in kitchen which we thought would need just a new floor. Trevor came in and from that moment onwards we were in safe hands, far more damage than we ever thought thanks to Trevor, he did all the work with our insurance company, no hassles at all. If you have something happen at home and are thinking of using your insurance look no further than Trevor. His knowledge his second to none, best decision we have made in years. 5 stars isn't enough.ThanksNigel and Mags
Graham Nugent
Graham Nugent
09:24 20 Oct 22
I am delighted to recommend Insurance Claim Solutions to anyone facing a need to submit a home insurance claim. We had a significant escape of water from our attic tank while we were away, and came home to quite a smelly mess and water damage. We contacted Insurance Claim Solutions and really appreciated Trevor Kelly's attention to detail, and his professionalism. Trevor is a really good communicator and he is friendly, he took away all of the hassle and bureacracy for us; and as an industry expert he was thorough in preparing our claim and negotiating on our behalf. We handed everything over to Trevor and had no regrets; now that the claim has been settled, we could not be more satisfied. Thank you Trevor.
Eoin Donohoe
Eoin Donohoe
09:21 30 Sep 22
I recently worked with Trevor on a housing claim that required experienced support from a top quality professional. Trevor certainly is a high quality professional who provided great support. Trevor is a great communicator and was extremely good at keeping me up to date on how the process was progressing. He kept me reassured that the issue had his focus and commitment at all times. I would highly recommend Trevor.
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