Owning a commercial property is a huge investment. If you protected your investment with an insurance policy, you should be able to depend on its protection when you really need it. When filing a claim, you should know what losses your commercial property damage coverage protects. You also must know what losses it does not cover.
If you are filing, fighting, or appealing an insurance claim, a Boca Raton property damage lawyer can take the stress out of the process. They can provide legal services and support that gives you peace of mind about your claim. Hiring a lawyer can also relieve you of the frustration and potential confusion of the claims process.
Why Commercial Property Insurance Is Crucial for Business Owners
The location where you conduct business is an important part of your company. If a natural disaster or another unforeseen event damages or destroys your property, it will negatively impact your business, income, and employees. Insurance can help you recover from different types of property damage or destruction based on the covered losses and limitations of your commercial property insurance policy.
Your commercial insurance policy could vary greatly from that of a neighboring business, so knowing what your policy covers is necessary. If you are struggling to understand your commercial property insurance policy or its potentially complex language, an insurance claims attorney can provide much-needed clarity. If you filed a claim that your insurance company rejected, your lawyer can determine why and help you file an appeal.
Protection Against Losses Due to Burglary and Theft
The most common types of commercial property damage claims include burglary, theft, or vandalism of a company’s physical location, office equipment, or other business assets. Retail businesses and offices are frequently the object of these unsavory actions. If your business owners policy covers them, you should be able to get compensation, but claims like these can be hard to prove. In cases of theft, specific losses can also be difficult to verify.
Consider working with a law firm that can investigate the theft or other action and document the value of your claim.
Commercial Insurance Coverage for Storm Damage
According to the Florida Climate Center, no part of Florida is immune to hurricanes. Hurricanes and other powerful storms can lead to power outages and structural damage that force your business to close for lengthy periods.
Driving rain and hail can cause roof leaks, toppled trees, water damage, and cracked or broken street-level surfaces like sidewalks and parking lots. They can also damage interior and exterior machinery, expensive equipment, inventory, and other physical assets.
A lawyer can help you navigate the claims process and fight for the compensation you need to make repairs that allow you to reopen your business safely as soon as possible.
Insurance Can Cover Fire Damage to Your Commercial Building
A fire can grow quickly and damage or completely engulf your property. In addition to damage to the structure, it can consume furnishings and inventory. Commercial fire damage can also include smoke damage. Because smoke is invasive, it can get into cracks and crevices and ruin inventory with soot or with smoke smells that are difficult or impossible to remove.
Your lawyer can collect police and firefighter reports that prove the cause of the fire and its resulting damage. These official reports and other evidence can help you file a complete and accurate business property insurance claim.
Commercial Property Coverage for Window Damage
No matter how strong they are, windows are still made of glass, which can often crack or break due to natural disasters or vandalism. Additionally, glass is not the only vulnerable window feature that might sustain damage. Your claim could also include coverage for seals, glazing, and complete window loss.
Protection When Your Property’s Roof Is Damaged
While common, roof claims can be difficult to recover compensation for. Insurance companies often deny claims like these. If your roof damage resulted from age or regular wear and tear, you may not receive compensation for its repair or replacement.
A lawyer will fight for compensation for roof damage caused by a covered severe weather condition, including wind, hail, or airborne debris.
How to File a Commercial Property Damage Insurance Claim
One of the first steps in filing a claim is knowing how your insurance company wants it done. You can usually find this information in your policy’s paperwork. Since you likely must meet a deadline, you should start on your commercial property insurance claim right away.
Filing a claim with your commercial property policy typically means:
- Documenting your covered losses and calculating replacement costs
- Proving any cleanup costs you incur
- Completing insurance claim forms
- Dealing with the insurance claims adjuster
- Reviewing the details of your policy
- Negotiating for a financial settlement with the insurance company
A lawyer can navigate this process for you. They can also protect you from a lower offer than your losses warrant and bad-faith insurance tactics. Their familiarity with the claims process can help you make the most of your policy’s coverage.
How a Lawyer Can Help You Get Insurance Compensation When You Need it
You have a limited time to file a claim when a covered event damages or destroys your commercial property. Prompt reporting of your damage and meeting all notification and filing deadlines is critical to getting compensation. A lawyer can handle the process for you.
Your commercial property damage attorney can also:
- Review your policy contract, including any additional commercial property insurance coverage
- Clarify policy limits and exclusions
- Complete and submit all required claim forms
- Attach supporting evidence to your claim
If you have other types of business insurance, such as business interruption insurance, business income insurance, or other additional coverage, your lawyer can help you fight to recoup the loss of income and other financial losses you incurred by not being able to run your business as usual.
Get Legal Support for Your Commercial Property Damage Claim
If vandalism, fire, theft, or high-speed winds damaged your commercial space, you should be able to turn to your insurer for compensation. That means knowing what commercial property damage coverage protects and what it does not cover.
At Ged Lawyers, we will examine your commercial policy and fight for the compensation you need to get your business up and running again. Find out how by contacting our consultation team to get started today.
