Over the past few weeks, numerous small business owners have been caught
off guard by the fine print inside their business interruption coverage.
Am I covered for Coronavirus? Is it legally considered a pandemic? Do
I still need to pay my rent? These questions could mean life or death
for your small business. So, how can you be prepared for possible litigation
BEFORE it’s too late?
Before reading on, you must know that I am a big fan on liability insurance,
however you have to understand that a majority of lawsuits are not covered
by insurance. Therefore, your first step is to accept the fact that you
as a small business owner, do not understand all of the nuances of an
insurance policy before you sign it. Therefore, it is important to have
a trained legal professional read through your policies before you sign
them. In order to ensure you are covered for the items you want and in
order to negotiate with the insurance company to get the coverage you need.
Once you accept this as the truth you are ready for the second big truth
that no one tells you:
There is a clear conflict of interest between an insurance company and
its customers. The insurance company seeks to reduce claims and the customer
seeks to maximize them. The playing field, however, is imbalanced because
the people writing the policy are extremely experienced in writing insurance
contracts while the customer is usually quite inexperienced at reading them.
This often leads to disappointed claimants who thought they were buying
certain insurance but due to various “circumstances” they
will not be covered.
So how can you avoid the situation? You need an Asset Protection Plan to
supplement your insurance. Now you have plan A and plan B. If your insurance
does not cover your claim, you are not the low hanging fruit, you now
have an Asset Protection plan to cover you.
Contact The Presser Law Firm, P.A. today for a complimentary preliminary
consultation to discuss the perfect Asset Protection Plan for you.
The Presser Law Firm, P.A.
6199 N. Federal Highway, Boca Raton FL 33487
(561) 953-1050 or e-mail Info@AssetProtectionAttorneys.com