Skip to main content

Commercial damage

A commercial fire or flood can bring an abrupt halt to business and put a company’s future in jeopardy. We negotiate the insurance claim so that our clients and their companies can get back up-and-running and begin to recover.

Commercial Insurance policies vary widely, but generally speaking there are three distinct coverage areas:

  1. Business interruption insurance

    This varies by policy, but generally, it covers lost business income as well as those expenses that continue to accrue even when a company has to be temporarily shut down; issues can arise when proving the amounts at issue and managing payment schedules to stay up-do-date with business responsibilities.

  2. Business contents, equipment, and inventory

    This will depend on your policy, but these coverages will generally provide reimbursement for a fair portion of the costs associated with replacing all of the damaged and destroyed items in the building; issues can arise with regard to what coverage area each item falls into, under-valuation, and over-depreciation.

  3. Structure

    This varies from policy-to-policy, but should generally cover the cost of rebuilding a comparable structure to the one you had prior to the loss; a multitude of issues can arise when your vision for the repairs do not match the Insurance Company’s suggestions.

Virani Law is fully operational and we continue to help families across Canada during Covid-19.
Free Consultations are available over the phone or through video conferencing. Stay safe.