Hurricanes are a destructive force that can cause significant damages to your commercial properties. As a property owner, you should be adequately prepared to navigate the insurance claims process post-hurricane, which can be as intimidating as the storm itself. This is where public insurance adjusters can prove beneficial. We help policyholders, like you, file claims correctly to ensure you receive what is rightfully yours under your insurance policy. Here are four common mistakes to avoid when filing a hurricane commercial property insurance claim.
Not fully understanding your insurance policy.
It’s crucial to read your policy thoroughly and understand your coverage limits, exclusions, and the insurer’s requirements for filing a claim. Failing to understand these details can lead to denied claims or reduced payouts. Ensure you’re aware of how your policy addresses “wind-driven rain”, flood damage, and any other hurricane-related events. If the policy language seems too complex, consider consulting with a public insurance adjuster.
Avoid underestimating your property damage.
Commercial properties are vast, and damage can occur in places that are not immediately visible, such as roofs, basements, or behind walls. After a hurricane, thoroughly inspect your property for any damages, including those which might not be immediately apparent. Document everything with photographs or videos, and consider hiring a professional to assist you. A public adjuster can provide an unbiased, thorough assessment of your property damage.
Failing to report your claim promptly.
Most insurance policies require policyholders to report their claims ‘as soon as possible’. Delaying can give insurers reason to deny your claim, especially if the delay resulted in additional damages. After a hurricane, it is understandable that your immediate focus will be on restoring operations but be sure to prioritize reporting the damages and losses to your insurer as well.
Navigating the insurance claims process without professional help.
Insurance policies can be complex, and it’s challenging to handle the intricacies of a claim while also managing your business recovery efforts. Public insurance adjusters are licensed professionals who represent your interests in the claim process. They manage everything from documenting your loss, to negotiating with the insurance company and ensuring you receive the full compensation you’re entitled to.
In conclusion, understanding your policy, accurately assessing damages, promptly reporting your claim, and seeking professional help are crucial steps to successfully navigate the complex process of filing a hurricane commercial property insurance claim. Remember, the goal is to get your commercial property back to pre-loss condition without significant out-of-pocket expenses. Engaging a public insurance adjuster can make this process smoother, ensuring you avoid these common mistakes and maximize your claim’s potential.
Have questions about your property insurance claim? Feel free to contact Stark Loss for more information about how a Public Adjuster can help.