COMMERCIAL BUILDING INSURANCE CLAIMS

After property damage occurs, it's important to take the following steps:

1. Document the damage with photos and videos.
2. Secure your property to prevent further damage.
3. Notify your insurance company promptly and file your claim.
4. Keep records of any repairs or expenses related to the damage.

Consulting with an attorney early in the process can help ensure you meet all policy requirements and avoid common mistakes that could delay your claim.

The timeframe for resolving a commercial building insurance claim can vary based on the complexity of the damage, the extent of your policy coverage, and the cooperation of your insurance company. While some claims may be resolved in a few weeks, others may take months, especially if there are disputes over the extent of the damage or the value of the loss. Working with an experienced attorney can help streamline the process and avoid unnecessary delays.

Common reasons for denial include:

• The type of damage is excluded from your policy (e.g., flooding, unless you have separate flood coverage).
• Failure to report the claim within the required timeframe.
• Insufficient or improper documentation.
• Allegations of improper maintenance or pre-existing conditions.
  If your claim was denied, consulting with an experienced attorney can help you understand your rights and, if appropriate, dispute the denial.

Signs of an underpaid claim include your insurance company offering a settlement that doesn’t cover the full cost of repairs, using lower estimates for the value of the damage, or excluding certain types of damage that should be covered under your policy. A thorough review of your policy and an independent assessment of the damage can help identify underpayment issues. If you suspect your claim was undervalued, consult with an attorney to pursue the compensation you're entitled to.

Commercial building insurance primarily covers the physical damage to the building and related property. However, many businesses also have separate business interruption insurance, which covers lost income and extra expenses if you’re unable to operate due to property damage. Be sure to check if your policy includes this coverage, or consult with an attorney to explore your options.

If your property has sustained multiple types of damage, such as a combination of water and mold damage, it’s crucial to document each type separately and ensure that your claim addresses each issue. Some insurance policies may have different exclusions or coverage limits for different types of damage. An experienced attorney can help you navigate complex claims and ensure that all damages are properly accounted for.

Murray Law Group specializes in helping businesses navigate the complexities of commercial building insurance claims. Our experienced attorneys can help you document your claim, negotiate with the insurance company, and fight back against claim denials or underpayments. If you’re facing delays or disputes with your insurer, contact us for a free consultation—we’re here to ensure your business gets the compensation it deserves.