Commercial Insurance in the Event of Damage and Business Interruption

Business Insurance Claims

Business Insurance Claims

If you own a business, you likely do not generally anticipate that anything is going to happen to ruin it. However, things do happen, and people do need to take the appropriate precautions. Commercial insurance is one way that business owners can protect themselves in the event of unexpected crisis situations. A Commercial General Liability (CGL) policy will protect your business from financial losses if you end up liable for injury or property damage.

A CGL insurance policy will typically cover any legal costs that you would incur and will pay for any damages that are caused by your business. These include property damage and bodily injury. There are few different types of damage that can harm a business. One of these is the category of property damage and bodily injury. This coverage involves protection in the case that someone’s property is actually damaged or an individual suffers injuries as a result of the business’s actions. There is also personal and advertising injury coverage, which includes slander, libel, malicious prosecution, use of another’s advertising policy infringing on another’s copyright, and similar incidents. These are events that could cost the business money that do not involve physical damage or injury but a different type of damage and injury. There is also medical payments coverage, which protects the business in the case where someone who is not employed by the company ends up in an accident on the premises of the insured business or as a result of being exposed to the operations of said business. These include employment practices liability insurance and workers’ compensation. If you want to file an accidental damage insurance claim, you will want to make sure that the type of event that led to the claim is covered in your insurance policy. You will want to read through your policy and then talk to your insurance agent or company about how much coverage you will receive for this specific event.

In addition, after a business ends up losing property, business interruption insurance is quite important. There are three major types of business interruption insurance. These include regular business interruption insurance, extended business interruption insurance, and contingent business interruption insurance. Regular business interruption insurance is meant to compensate the insured business for any inconvenience during the period of restoration of the covered property. Extended business interruption insurance is meant to provide coverage for any income that is lost between the time that the property has been repaired and the time when the business reaches its pre-loss levels of income. Contingent business interruption insurance gives the business coverage for any loss of income that results from physical damage to the property of suppliers, providers, or consumers that would end up affecting the bottom line of the business. The latter two types of coverage are often offered as extensions of the business interruption coverage, even though the business will have to pay an additional premium for each one.

When a business needs to file claims due to some sort of damage, whether they be accidental damage or business interruption claims, there is always the possibility that these claims could be denied. When a business has to deal with denied insurance claims, the business will often end up having to pay for the damages. This is why you should make sure to be familiar with everything that is covered, so that you can take extra care to avoid events that are not covered.

Public Adjusters

When your home is damaged due to flooding, fire or a natural disaster it can be devastating. Many of your personal belongings may be damaged or ruined. You just want everything to return to normal as quickly as possible. In these situations, you need an experienced public adjuster to turn to. A public adjuster is important to help you as you deal with your insurance claim. Without a public adjuster you risk your claim being underpaid, or denied completely.

Do I need to call a public adjuster?

Calling a public adjuster after your home has incurred damage is an important step. It’s also important to take pictures of the damage in your home. Next, remove as much water as possible to try and salvage your furniture and other personal belongings. If you don’t remove the water you risk mold and mildew forming in your home, creating more problems and more potential damage. Mold and mildew can form in places you least expect, and hiring a professional to help remove the water and potential mold or mildew that has formed is important. No matter the damage to your home, hiring a professional public adjuster can help you when you fight against the insurance company for the proper settlement you deserve.

What should I do if my home is damaged?

You probably don’t want to think about your home being damaged due to flooding, fire, or a natural disaster. To save yourself some stress it’s a good idea to have a public adjuster you can turn to just in case an event like this occurs. A licensed public adjuster can help you in many different ways, with the biggest being to help you as you deal with the insurance company. After your home is damaged you want to focus on fixing your home and getting everything back to normal. That’s where a public adjuster can help. They’ll deal with the insurance company as you work on restoring your home.

Often time the insurance claim will try to have you settle as quickly as possible after an event such as a flood, fire or natural disaster. Often times when they do, the amount they offer is for less than what you deserve. Hiring a public adjuster is the best way to ensure that you get the settlement you deserve. Speaking with a professional can help you get your settlement not only filed quickly but also for the amount you deserve, allowing you to move on as soon as possible.

Water Damage Insurance Claim

Living in South Florida allows us to enjoy wonderful weather almost all year round. On occasion though we do have strong storms and hurricanes, which can lead to water damage in your home. If your home has water damage, submitting an insurance claim is important in order to get the proper compensation for the damages your home has sustained. Whether your home has been damaged due to flooding, a burst pipe, or a hurricane you can submit a water damage insurance claim to recover some of the losses. When you speak with a public adjuster they can help you get your claim processed quickly so you can restore your home and get everything back to normal as soon as possible.

What should I do if my home floods?

Nobody wants to think about what could happen if a pipe bursts, a hurricane comes, or flooding occurs. However, being prepared in case something does happen to your home can prevent future headaches. Make sure you have an experienced public adjuster who you can call in case your home is damaged due to flooding. There are a few things you want to make sure to do following a flood including:

  • Remove as much water as possible. When your home floods you want to try and get the water out of your home as quickly as possible. If you leave water in your home it can ruin your furniture and other items in your home. You also have the possibility of mold damage which is why getting the excess water out is so important.
  • Take pictures and document the damages. When your home is damaged a public adjuster can help you, but it also will help if you document the damages immediately following the incident. Taking pictures of the damage your home has undergone is the best way to insure your insurance claim gets settled quickly and for the amount you deserve.

Whatever water damage your home has incurred the quicker you act the better. Having an experienced public adjuster is important to make sure that your claim doesn’t get denied and that your claim gets paid for the amount you deserve. Nobody wants to deal with water damage in their home, but if you do have an accident it’s important to have a public adjuster you can contact.

Business Insurance Claims

When you own a business you have a lot on your mind and a lot of things to worry about. The last thing you want to think about is if your business is damaged due to flooding, fire, or any other natural disaster. Unfortunately these things do happen from time to time, and when they do you need to be prepared and know how to handle the situation. The first thing you need to do is contact a public adjuster to speak about filing a business insurance claim. This is important in order to make sure that your business gets the proper settlement. When your business suffers water damage other things can then occur such as the formation of mold and mildew which is why contacting a professional is very important.

What should I do if my business floods?

If your business has flooded due to heavy rains, a burst pipe, or a hurricane it can be extremely frustrating to deal with. The clean-up process can take away from you and your employees working and getting business done. When you have an unfortunate flooding situation involving your business it’s important to speak with a public adjuster right away. A licensed public adjuster can help ensure you file the proper claim for your business so that you get the proper settlement.

The most important thing to do after a flood is to get rid of as much water as possible to try and savage everything you can. Leaving water sit in your office can cause mold and mildew to form, which will lead to more repairs for your business. Mold and mildew can form underneath the floor and other places that may not be as noticeable so even if you don’t see mold and mildew forming it’s still important to remove the water as quickly as possible.

No business owner wants to take time out of their busy schedule to deal with a burst pipe or flooding in the office. Whether it’s a small leak or your entire office is flooded, you may be able to submit a business insurance claim to help recoup for some of the losses your business has suffered. In the event that your office has flooded, it’s important to speak with a public adjuster in a timely manner to ensure your business insurance claim is filed correctly and you get the proper settlement for the damages that occurred.