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PREMIUM PAYMENT RELIEF

COMMERCIAL DAMAGE CLAIM PROCESS

COMMERCIAL PROPERTY INSURANCE CLAIMS

Commercial buildings such as condominiums, schools, hotels, and medical facilities can suffer damages, don’t worry we have our adjusters on your side. Commercial property insurance claims can be very expensive. When it comes to filing a claim against your business insurance, don't avoid doing so if necessary. But you also want to be sure you take every step possible to reduce the risks of filing such a claim. What are the most common claims filed against commercial property insurance policies?

 
 

COMMON TYPES COMMERCIAL DAMAGE INSURANCE CLAIMS

Burglary and Theft

In a survey conducted by the Hartford, about 20 percent of small business owners filed a claim for burglary and theft in the previous five years. While it is one of the most common types of claims filed against business insurance, it is also one of the lowest in terms of cost. On average, the survey found that these claims amounted to an average of $8,000.

Water and Freezing Damage

Water and freezing damage is also a frequent claim. About 15 percent of small business owners filed a claim against their policy for this type of damage. The average claim was $17,000.

Wind and Hail Damage

You may have filed a claim for wind and hail damage if you work in an area near a storm's path. Most commonly, these types of claims are higher in years where storms are more frequent, and can range significantly in price. In the previous five years, about 15 percent of small business owners filed a claim for this type of loss. The average cost was $26,000.

Fire is a large risk to any structure. It is also a claim about 10 percent of small business owners have filed in the previous five years. Fire losses can range widely in terms of value. However, on average, the survey found that these claims cost $35,000.

Fire

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COMMERCIAL DAMAGE PROCESS

COMMERCIAL MITIGATION

Tarping a roof will temporarily stop leaks and protect your home from the elements.  When installed correctly, roof tarps can shield you home from bad weather for up to 90 days. 

COMMERCIAL POLICY REVIEW

A shrink wrap roof is just as it sounds. It consists of a large plastic membrane that shrinks tightly to the contours of your roof using heat. Seams are heat-welded to create a water-tight seal over the entire roof. It is a superior alternative to blue roof tarps.

ADJUSTER INSPECTION

An insurance adjuster works for the insurance company. 

After the adjuster submits a report on your claim, your insurance company may issue a settlement, which is the money they agree to give you to fix or replace your damaged property, for example, fix a hole in your roof

REPAIR OR REPLACE COMMERCIAL CLAIM DAMAGES

An insurance adjuster works for the insurance company. 

After the adjuster submits a report on your claim, your insurance company may issue a settlement, which is the money they agree to give you to fix or replace your damaged property, for example, fix a hole in your roof

 
COMMERCIAL PROPERTY DAMAGE TIPS
  • Contact professionals to handle your claim as soon as possible to have all supporting documentation in place to open a claim

  • Take as many pictures as possible of all damages on the property.

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HOW CAN WE HELP?

The initial contact with your insurance carrier is critical. This contact can be the difference between your claim being paid or getting denied.
Differentiating between belongings and property that can be repaired vs replaced can be overwhelming.
The many requirements and the extent of the damage all come into consideration at this point in your hurricane damage insurance claim. It’s hard to properly calculate what amount will effectively cover all the damages to your home. It may seem like the insurance carrier paid you enough. In reality it could require so much more to repair your home and bring it back to Pre-loss condition.
The complexity and time-consuming tasks can be taken off your hands by a Hurricane Damage Public Adjuster. Let us help represent you and help you navigate your hurricane damage insurance claim.

 
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