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The implications of business interruption insurance coverage across the Miami business community is causing unprecedented uncertainty and anxiety during the COVID-19 quarantine in South Florida. As businesses and carriers across all verticals review policies for possible coverage during the coronavirus pandemic, questions are falling into a few predictable buckets of coverage.

Many businesses across South Florida are being told by insurers that your business interruption policy does not cover events related to the COVID-19 pandemic, because either the policy specifically excludes pandemics or viruses, or there has not been actual “property loss.” Our team at Acle Law has researched and assembled what a complaint against an insurer might look like regarding the latter, and we believe strong arguments can be made that in fact coverage does exist.  

The COVID-19 pandemic has created a swirling storm of chaos across the globe, and with any crisis – just like the hurricanes we experience in South Florida – there are people looking to exploit confusion for their own profit. Some are creating false storefronts and offering hard-to-find items that once paid for, never get delivered. Others are creating schemes via text messages, emails, apps or phone calls. Some of the below are even spreading as fast as the virus itself. As a South Florida consumer, be weary of these and many other scams out there. Stick to trusted sources in times like these.

As we all work together as a global community to mitigate the dynamic COVID-19 crisis through social distancing, limiting travel and reducing person-to-person contact, South Florida businesses are understandably concerned about the financial impact it is having on their operations.

The outbreak of COVID-19 represents one of the most significant global public health crises in the last century and is causing major disruptions and unprecedented unpredictability in markets, businesses and economies.

With so many condominium buildings dotting the South Florida landscape and with new towers going up – it’s important that every condo owner has comprehensive liability coverage. On occasion, your homeowner’s association (HOA) may provide this, but if you own the unit, then it's more than likely you’ll need to secure your own. And even if your HOA does provide coverage, make sure you review the terms carefully to fully understand what happens if a leak ever develops.

By their own accord, property insurance carriers are risk-averse. While they certainly want their customers to receive compensation for property loss or damage, they also cancel policies when they believe there has been a breach of contract. Understanding ahead of time why your property insurance policy may be cancelled will help you avoid any potential issues in the future.

Too many claims on any particular policy are always going to be red flag. In many cases, your carrier may feel that continuing to provide coverage on your property poses too much of a risk. Some things you can look out for include whether all the claims are linked to a single occurrence or due to multiple events? You also have to take into consideration the cost of each claim. No matter the circumstance, it’s always good to check with an experiences Miami property insurance lawyer in order to determine what your best course of action is.

If your claims resulted from certain factors that have since been addressed, you can make the argument to your carrier that the underlying issues have been corrected. Work can also be done to your property to make it safer to mitigate the prospects of your insurance company cancelling your policy. For example, you can improve your roof, windows or plumbing to reduce the chances of further accidents from occurring.

If you plan on making renovations or repairs to your property, you must advise your insurer first. Adding square footage or changing the value of your home will likely affect your policy and premiums. Changes to your policy may be needed to ensure that it fully covers your property after repairs or additions are made. If you do not inform your carrier, you run the risk of cancellation.

Furthermore, your policy will also be cancelled if you falsify information on your contract, fail to make monthly payments or make fraudulent claims about damage to your property or home.

These are just some of the many reasons why an insurance carrier may potentially cancel your property insurance. Our experienced attorneys at Acle Law will walk you through the terms of your insurance policy and provide representation in any dispute in Florida where your insurer is denying, delaying or under-paying your claim. Call our Miami property insurance claim attorneys at the Acle Law Firm today at 305-447-4667 or visit Acle Law for a free consultation.

With Dorian spinning in the Atlantic, South Florida homeowners should be preparing their homes and putting their affairs in order to potentially file a claim with their home, flood and windstorm insurance companies. We’re hopeful that no storms will make landfall, but if Dorian or another one does, those South Floridians who planned ahead will be in the best position to maximize their coverage and begin rebuilding quickly.

Understand what to do (and what not to do) following a hurricane
There is an inevitable sense of helplessness in the chaos immediately following a hurricane. However, remember that the sooner you file a claim, the sooner you will be able to secure coverage. Call your insurance carrier the day after a storm, even if it takes hours to get through on the phone. Getting your claim in early will put you on the path to recovery quicker.

Watch out for Scams and Fraud
While disaster usually brings out the best in people – strangers helping each other, neighbors and family coming together – some people use the aftermath of a hurricane as an opportunity to take advantage of unsuspecting or vulnerable homeowners. Be aware of price gouging, assignment of benefits fraud and misleading rumors about storm disaster recovery.

Be Ready for your Insurance Carrier to Dispute Your Claim
It’s inevitable during a storm – home, windstorm and flood insurance carriers will routinely deny coverage and customarily claim that the storm damage was actually a prior loss. As a homeowner, it’s important to know when your insurance company crosses the line into bad faith, and to take the proper action at the first sign your claim is being improperly denied.

Your home is a major investment and if you have sustained damage and losses in your home or business following a hurricane or other disaster, or you are currently involved in a claim that is being denied, underpaid or delayed, contact our Miami property insurance claim attorneys at the Acle Law Firm today at 305-447-4667 for a free consultation.