A storm, fire, or flood has walloped your business or commercial property. How do you get the claims process started? Avoid claims surprises by calling us so we can notify your insurance company immediately. Once they know what’s going on at your place of business then we can assess the damages and make temporary repairs to mitigate further issues and get you back to work ASAP.
Don’t damage your own claim. Our public adjusters outline common mistakes business owners make when filing commercial property claims.
Mistake #1. What? My Policy Doesn’t Cover That?
Many business owners assume that their commercial property insurance covers retail space for damage caused by floods, hurricanes, fires, and other natural disasters. However, that is not always the case.
Insurance policies are complicated, and damages might not be covered the way you expect. When selecting your policy, be sure you fully understand the coverage. You don’t want to waste your time making a claim for something that isn’t insured, adding to the disruption of your business.
Knowing your policy will help you identify coverage gaps and decide whether you need supplemental policies to ensure that your business is fully protected.
Mistake #2. Delaying That Call to the Insurance Company
Contacting your insurance company immediately after your business is damaged is imperative. Failure to report damage to your business within what they deem a reasonable amount of time could cause your insurer to refuse payment. Most insurance companies employ their own quick-response teams that will survey the situation and assess the damages - from their point of view.
How you respond to their questions when you call insurance to report damage can also have an impact on your settlement. You don't want to confuse insurers about the seriousness of damages, which could negatively impact your claim.
If a covered peril damages your business, we can help you get the fairest settlement for your losses so you can get back to business. Lean on Liberty Adjusters and submit a claim today!
Mistake #3. Failure to Document Damage
Take plenty of pictures from multiple angles to show your insurance company proof of the damages. Failing to document the destruction thoroughly could result in an undervalued claim or even a refusal to settle your claim at all.
Photograph the damage immediately. Focus on ruined equipment, goods, utilities, and anything else that may be expensive to repair or replace.
Further, document all your communication with your insurance company. Make sure to:
Record the date and time, and ask for a transcript of the verbal conversation.
Retain copies of all mailed correspondence.
Create a folder to file emails.
Ask your claims representative to provide a transcript for your records. This documentation will help ensure that your policy is honored to its full extent — and that you receive the fairest settlement.
Mistake #4. Dumping Damaged Items and Goods
Documenting the damage is a crucial step, but don’t dispose of the damaged property after taking photos. Retaining the evidence will help prove the extent of your losses. Damaged items will be used as proof of loss and will affect the insurance adjuster’s report.
Also, you must take steps to mitigate further damage after the event. If you don’t, it could be considered negligence, and your insurer might deny coverage.
Last, if you spend money on temporary repairs to mitigate further damage to your business, save the receipts and submit them to your insurer for reimbursement.
Mistake #5. Not Hiring a Public Adjuster
Your insurance company adjuster works for the firm. In comparison, a public claims adjuster acts on your behalf to seek a fair settlement for business property damages. The benefits of hiring a public adjuster to assist with your claim include:
Time savings — A public adjuster will organize and manage your commercial property claim so you can get back to business.
Claims expertise — No matter the type of claim, a public adjuster has the expertise to ensure that you get the settlement needed for repairs.
Faster resolution of your claim — Working with a public adjuster can expedite the claims process, allowing you to complete your repairs as soon as possible.
A partner on your side — As public adjusters, we work for you, not the insurance company.
Fair claim value — Insurance companies often try to deny or undervalue claims, but we can negotiate a larger settlement on your behalf.
Learn More > Why You May Regret NOT Hiring a Public Adjuster
Get Justice for Your Commercial Property Damage Claim
Settling a commercial property insurance claim can be complex; it takes diligence and professional assistance from a public adjuster can help to negotiate a settlement. If a storm, flood, or fire has damaged your commercial space, lean on Liberty Adjusters.
Get the fairest settlement so you can rebuild and get back to business. Our public claims adjusters cover several counties in Florida. Call us today at (813) 922-5129 to reopen an underpaid or denied insurance claim, or submit a claim online.