What to do if your insurance company is not being helpful

Disasters that damage commercial properties can prove to be too costly to the owners and their business. Most often, the only probable and fastest solution that can help property owners rise up from losses is through insurance claims, to which larger premiums have been paid for purposes of adequate protection during catastrophes.

Many calamities have occurred, though, and many commercial property claims have been filed, but the usual responses from insurance providers have either been total denial of the claim or payment that fall short of the full amount of premium specified.

Filing for claims is almost always without a disputed issue, a fact that points to the interests of the insurance firm and the insured frequently in opposition of each other. For the insured believes that after paying the stipulated premiums, the insurance provider will pay for all things claimed or the full amount of benefits specified in the contract. This, however, is almost always never the case as insurance firms oftentimes resort to means that will keep them from paying the full benefits. Not keeping to their end of the deal, insurance providers often get accused of acting in bad faith, that is, unjustly treating claims made, either through denial or under valuation of damages and losses for minimal payments.

To approve a claim, information related to the following are required by insurers:

  • What caused the loss
  • Whether the loss is actually covered by the policy
  • The extent of damage to the property
  • Which items need replacement or mere repairs
  • The actual cost required in the repair or replacement of the property
  • The actual amount the insurance firm ought to pay the claimant

The Texas Department of Insurance points out that cause of loss or damage to property is not limited to natural disasters, like earthquake or weather events, but also fire, flood, plumbing leaks or theft. A denial or any under valuation of claims can have a major effect on owners of properties.

According to Texas insurance claim attorneys of Williams Kherkher, commercial policy claims are seldom straightforward. Unfortunately for policyholders, commercial insurance policies are written so poorly that courts are frequently required to interrupt what benefits the business is actually entitled to when it suffers a catastrophic loss. A quick look at your commercial policy shows something like, “If X occurs we will pay the cost to repair your property, unless Y also occurs. If, however, Y causes Z then we will pay to repair the loss.

When your commercial property is damaged, bringing your business or organization back online can come with an enormous repair bill that may be impossible to fund without swift payment from your insurance company. Now, whether your insurance company is causing unreasonable delays in payment, pressuring you to accept a too-low offer, or has denied your claim in its entirety, seeking skilled legal representation can help you to resolve the conflict in a timely manner so that you can begin the recovery process. The sooner you file a claim, the better, so take action today.

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