What if a sudden winter storm overwhelmed your building’s rooftop and caused it to collapse? Or hidden components within your building’s walls warped and weakened it over time to the brink of destruction? If your commercial property suffers a structural collapse, it does not also have to bring down your business.
When handling your insurance claim, keep in mind that collapse can be interpreted in different ways, so you want to avoid receiving less than what you deserve.
Some buildings are vulnerable to collapse, and for a variety of reasons. In most cases, collapse is already built into your commercial property insurance policy because it can happen to you regardless of where your business is located. In the North, heavy snow on your building may cause roof collapse. In the South, air conditioning units on the top of your building may weigh down and weaken the roof to the point of collapse.
Is the damage partial or total? Your insurance company’s team will have their own interpretation about the extent of the property damage and what is covered in your commercial insurance policy. Who is on your team working to protect your interests? Our experts have the experience and resources to evaluate and document your damage in detail and negotiate your claim for the maximum amount. When your business is at stake, you deserve to rebuild and continue operations as quickly as possible.
Make sure you fully understand the meaning of each of the following before you move forward. Feel free to reach out to us for a no-cost discussion about your claim.
What is my agent or broker’s role?
How do I keep my employees?
How do I keep my customers?
Why is a claim strategy so important?
Am I impacted by coinsurance?
What do I need to know about the insurance company’s adjuster and experts?
Am I entitled to an advance from the insurance company? What is reasonable?
What does it mean when the insurance company recommends a preferred vendor? Who will this vendor actually be working for?
Contractors may tell you they can do what public adjusters can do. Can they really? What is their background and education in insurance? Are they licensed and bonded? In many states, like California, it’s against the law to practice without a license!
The policy says it is your responsibility to submit a reconstruction estimate. Why would the insurer want to do it for you?
What is the difference between functional replacement and true replacement cost coverage and why should you care?
How is actual cash value determined?
Can you do the repairs yourself? Are you entitled to the overhead and/or profit that a contractor would typically charge?
What are the benefits and the pitfalls of not replacing your building?
Do you have to replace on the same site? Can you buy or build elsewhere?
Can you collect building code enhancement coverage if you build elsewhere?
How quickly can you start rebuilding following a loss?
How much of my time will this take?
Property Damage Losses Commercial Claims Recovery Process
Life & Safety Issues
Mitigation of Damages
Establish A Preliminary Recovery Plan
Evaluation of Coverages
Valuation Of Damages, Claim Preparation, and Documentation
We surely have had a pleasant relationship and we look forward to continuing it. We believe that, in general, your services have been of extremely high quality and we do appreciate those efforts on our behalf.
Don't Worry,' he said, 'you do not need any professional adjuster working with you. I will handle everything at no cost to you.' Like a babe in the woods I went along with him and quickly learned that the only people tougher to collect from than an insurance company is a bankrupt restaurant. Insurance companies like to collect premiums but do not graciously pay the insured what is rightfully his. Their adjusters before being hired are evidently screened for their ability to be unfair and insensitive to the plight of the poor homeowner. I, a seasoned businessman, quickly learned that I was no match for all the roadblocks the insurer set up in order to reduce their exposure…Once you came on the scene the ball game changed and the playing field was leveled…as a matter of fact I felt that I now had the edge. The professionalism and expertise you brought to the scene enabled my wife and me to finally relax and to finally believe that the matter would be concluded fairly and that we would receive the settlement that was due us. And that's what happened.
For decades, L’Auberge Chez François has been one of the leading restaurants in the metro Washington, D.C., area. Known for its exceptional French cuisine and impressive service, the restaurant is a longtime favorite of Washingtonians celebrating anniversaries, birthdays or other special occasions.
Super Typhoon Paka, as the storm came to be called, was a 12-hour session of destruction for the island of Guam. Stirring up winds in excess of 200 miles per hour, the tropical cyclone tossed buildings, planes and ships across the island like discarded toys. Among these was the headquarters of Continental Micronesia, a subsidiary of Continental Airlines. The main offices, the marketing buildings and the planes were damaged by the powerful typhoon.