Business Interruption Claims Lawyers in McAlester

Fighting for Full Value in Business Interruption Claim Cases

Accidents can cause your business to stop for a variety of reasons. A storm may destroy your building. Faulty plumbing can damage your inventory. Electrical failures may require extensive repairs. Whatever the reason for the loss, accidents to a business cost more than just fixing the structural damage or rebuilding from scratch. Each day a business ceases operations is a day when customers may go elsewhere and when opportunities for new business relations are lost.

At Stipe Law Firm, our business interruption claims attorneys in McAlester understand your frustrations. We work to make insurance companies pay full value for everything you reasonably lost. We review your business operations, your income, and your expenses, including fixed costs. We work with accountants and other financial experts to pinpoint the exact amount of money needed to resume operations and the exact amount of loss a business interruption costs.

Damages in Business Interruption Cases

The amount of loss depends in part on the type of business. Service-oriented businesses have different concerns than retail companies. Retail losses are different from small manufacturers, which, in turn, are different from large industrial complexes. Businesses interruption losses include many items of damage.

Some of the common damages that a business interruption claims lawyer in McAlester reviews include:

• The cost to fix and rebuild property damage. The damages should include the use of the right quality materials and, if replacement damages were bargained for, should cover the cost to replace damaged property – not the fair market value of the property, which is usually lower.
• The cost to purchase new equipment. Businesses are more than the physical building where companies meet clients or make products. Every business requires tools, desks, computer hardware, equipment, and other tangible assets.
• The cost of lost inventory. Retail businesses make their money off their inventory. When inventory is damaged, it needs to be replaced.
• Lost profits. When businesses stop operations, the customers still need services and products. The longer the delay in reopening, the more likely customers are to go elsewhere. Business interruption means lost sales.
• Lost good will. Good will is an asset that includes the reputation of the company, something that can take years to acquire. When a business is interrupted, the good will of the company decreases.
• Expenses to relocate clients. Some businesses have tenants. Office complexes and malls have commercial leases. If the lessor’s business stops operations, the lessees need to stop their business too. The responsibility for business operation loss may extend to the tenants. Many businesses, like hotels and apartments, have live-in tenants. These tenants need alternative accommodations when buildings collapse or need extensive repairs. These alternative lodgings have to be paid for.
• Fixed overhead costs. While the business is being rebuilt, there are still many expenses that accumulate. Taxes are still due. Premiums must be kept current. All of these overhead costs need to be paid for.
• Data loss. More and more, companies rely on software to store important customer and commercial data. If a business suffers damage to its computer systems, the data can be lost. The cost to replace or re-accumulate the data needs to be part of the demand.
• Bad faith damages. Delay costs money. When insurance companies fail to pay on time, our Oklahoma business interruption lawyers claim legal fees, interest, and demand compensation for the full amount of the loss.

Our lawyers thoroughly review each item of loss. We work to get the right value for past loss and future loss. Our business interruption lawyers fight for every dollar of lost value.