If you have questions about your commercial property insurance claim, Leader, Leader, & Zucker, PLLC are insurance claims lawyers in Fort Lauderdale, Florida who can help you. Commercial insurance claims can insure businesses, business structures, or rental properties against loss from covered unexpected disasters. When it comes time to make a commercial insurance claim, business owners may have unique questions and challenges. Some insurance policies protect landlords with coverage for lost rental income and other policies may protect business owners by covering lost income due to business interruption. If your policy covers these situations, not only will your claim involve calculating physical damage to a structure or a place of business, but it may involve calculating the fair rental value of a property or a fair value on how much money your business could have brought in during a period of business interruption. These calculations can be complex. Many business owners choose to hire insurance claims lawyers who can assist with the claims process, help them place a fair value of their claim based on their policy type, review their policy to help them understand their rights, and fight for them to receive the best possible compensation permitted under the law. In some cases, business owners may need to hire experts or accountants to help them with their claim. As with any insurance claim, providing evidence to support your claim is paramount. BUYER BE WARE…many of the business interruption policies do not provide the coverage the purchaser thinks they are getting. If you have such a plan, carefully review it yourself and with your agent, if you have one. It is important to understand what and what is not covered. After past large scale losses, such as Hurricanes, we have spoken to many insureds that believed they had coverage for much more of their business losses and interruption than they did.
Our attorneys can review your policy, review the damages to your commercial property, and assist you with making a claim for your losses. Commercial property insurance can be different than residential property insurance. You may suffer losses to your income or suffer an interruption of your business operations as a result of lost business if your commercial property is damaged, and may be entitled to seek a settlement that covers these losses in addition to costs to repair your property. Whether you are covered for these losses depends on your policy, your deductibles, and your coverage type. With commercial insurance claims, you may need to estimate lost business, and accountants may need to be hired to estimate these losses. When business owners disagree with the figures that adjusters reach as opposed to the figures their accountants reach, business owners sometimes might choose to hire a commercial property insurance claims lawyer to assist them with their claim.
Understanding the Claims Process in Fort Lauderdale, Florida
When you make an insurance claim because you have suffered damages or losses to your commercial property, your insurance company may use their adjusters to estimate your losses and damages. Sometimes adjusters may use computer programs to estimate your damages, and sometimes the insurance company may hire their own professionals to estimate your losses. When it comes to making an insurance claim for your commercial property in Fort Lauderdale, it is in your insurance company’s best interests to offer you the lowest possible settlement while honoring your policy, while it is in your best interests to get the best possible value for your claim so you can repair your business and resume operations. Sometimes insurance companies and business owners may disagree about the value of a claim. This doesn’t always occur due to bad faith but may occur because adjusters and business owners are considering different evidence. If you find yourself in this situation, it may be wise to hire a commercial property insurance claim lawyer in Fort Lauderdale, Florida, like Leader, Leader, & Zucker, PLLC.
What is Covered by Commercial Property Insurance?
Commercial property insurance can vary depending on your business type and needs. If you are a landlord, for example, you may have the right to purchase landlord insurance. If you own a business or own a property where business is conducted, you may need commercial property insurance. Commercial property insurance can protect the building where you do business. So if the building is damaged due to storm or due to theft or fire or vandalism, you may be able to make a claim to repair the structure. You may also be able to purchase coverage to protect your business assets, inventory, and protect yourself from lost income if business is interrupted due to a covered disaster or event. Commercial insurance can help protect not only your livelihood but your investment. If you have paid your policy faithfully, you count on your insurance company to come through for you when you need them most. If you have made a claim and the settlement your insurance company is offering you isn’t enough to repair your place of business or doesn’t cover your lost income, you may have the right to appeal your claim. If your claim has been denied, you may also have the right to appeal a denied claim. It helps to understand your insurance policy and its limitations. It also helps to have an insurance claims lawyer working with your insurance adjuster to help you get the best possible settlement permitted under the law. Contact Leader, Leader, & Zucker, PLLC, insurance claims lawyers in Fort Lauderdale, Florida today to learn more about how we can help. Also important to know, many commercial policies do not have the same coverage and protections your personal homeowner’s policy might. For example, if there are certain repairs or changes not as a result of the loss but rather a law or ordinance, many commercial policies do not have law and ordinance coverage. Likewise, certain statutes governing what the insurance company has to cover may not apply to a commercial loss.
Protect Yourself After Disaster Strikes
While many insurance claims can be resolved without the assistance of a lawyer, sometimes individuals need the added support of an insurance claims lawyer in Fort Lauderdale, Florida on their side. Leader, Leader, & Zucker, PLLC are insurance claims lawyers in Fort Lauderdale, who work closely with individuals who may be facing difficulty with their claims or who have had their insurance claims denied. Contact us today. We can help you with insurance bad faith, help you fight to get the best possible settlement permitted under the law, and help you understand your rights.