Commercial Property Insurance Claim
Halt | March 27, 2022 | 0 Comments

How to Deal With a Denied Commercial Property Insurance Claim

When business owners experience damage or a loss of property, they expect their insurance company to pay. Unfortunately, rightful claims are sometimes denied, leaving claimants feeling stressed and overwhelmed. Knowing how to deal with a denied commercial property insurance claim allows business owners to take immediate action to protect their rights and best interests.

What Are the Common Problems Property Owners Encounter When Putting in an Insurance Claim?

Denied Commercial Property Insurance Claim: Ways to Deal

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Aside from denials, there are also other problems that develop in the process. The following offers information on some of these common issues. Those facing denial or the following problems should consider getting help from

  • Business owners often face long delays when waiting on their commercial property insurance claims to settle. Those who have been waiting for months need to be aware of their rights. Taking action right away may help to get the process moving again.
  • Another common issue is a lowball offer from the insurance company. If the insurance company refuses to offer a fair settlement, the business owner may not have the money to cover the full extent of their damages. No business owner should have to stress over a low offer when they are putting in a legitimate claim.
  • Sometimes, business owners will also find their insurance company tries to place blame. The insurance company may try to accuse the owner of causing the damage. Business owners often feel a great deal of stress when dealing with these underhanded tactics.

Understanding the Most Common Types of Commercial Insurance Claims

Understanding the Most Common Types of Commercial Insurance Claims

Unfortunately, most business owners will deal with a commercial insurance claim at some point in their lives. The following offers information on some of the most common claims.

  • Burglary and theft are the most common types of commercial insurance claims. These issues can arise from burglars, disgruntled employees, and even angry customers. Around 20% of all commercial insurance claims involve burglary and theft.
  • Fire is also a common commercial insurance claim. Unfortunately, many small business owners do not have enough fire protection in place. Fires are capable of causing catastrophic damage to a business. Having fire insurance is essential.
  • Weather damage is also a common occurrence. Wind, hail, snow, ice, and snow can all lead to property damage. Weather-related natural disasters, such as tornadoes and hurricanes, can shut down a business for weeks or even months.
  • Customer injuries also account for many commercial insurance claims. Property owners are often held liable when a customer becomes injured. These types of claims can sometimes result in lawsuits.

How Should Business Owners Handle a Denied Insurance Claim?

Unfortunately, the claims process is not always easy. Even rightful claims may be denied by the insurance company. If a business owner gets denied, they need to take action right away. Getting help from a lawyer allows business owners to protect their rights and ensure their claims are handled fairly.

There Will Be A Lot Of Competition Among Insurance Firms

Business owners should schedule a consultation appointment with a lawyer as soon as they learn about the denial. The sooner the business owner gets legal help, the sooner the process of fighting the denial begins. No business owner should have to face dealing with an insurance company alone.

If you are facing a commercial insurance claim denial, first find out why. The insurance company must reveal why they denied a claim. Next, schedule a consultation appointment with an insurance lawyer to get started.

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