Commercial property insurance is there to protect your storefront, warehouse, or office in the event of unexpected closures or accidents. But if you’ve filed a claim and your insurance company isn’t cooperating, you need a commercial property insurance claim attorney from KFB Law on your side.
Your commercial property insurance should help in the face of fires, plumbing failures, theft, storms/lightning, and construction accidents. Commonly, policies cover:
- Damage to equipment, including computers and furniture
- Storefront facades, signs, and fencing
- Your inventory
- Your warehouse, office building, or storefront itself
Furthermore, many policies will cover you for business disruptions, which are when your business has to temporarily close for safety reasons.
When you file a claim, you might think it’s enough to supply the right documentation and hit submit — but unfortunately, it’s not always that easy. Insurance companies may try to leave you in the lurch by denying your claim without a reason or giving you less than what you need.
When that happens, you need a business property insurance claims lawyer on your side to set things straight.
What is a commercial property insurance claim dispute?
You may file a claim dispute (or claim appeal) if you believe your insurance policy isn’t paying out what you’re owed or you believe you’ve been denied without a good reason.
But filing a claim dispute isn’t like waving a magic wand that forces an insurance company to pay up this time around. If you want to file an effective dispute, it’s important to have an experienced business property insurance claim attorney on your side.
At KFB Law, we’ll help you understand what you were denied and make sure your insurer pays attention this time around. If you were denied without cause or weren’t offered the settlement you need, we’re here to help.
Why was my claim denied?
When insurance companies pay settlements, they lose money. To avoid that, they’ll do anything they can to avoid paying out a claim. That includes delaying communication, misrepresenting the facts, or even just acting in bad faith.
Here are a few common situations that explore a few reasons why claims may be denied.
Example #1 – Property/Inventory Damage
The situation: Your storefront is damaged by graffiti and vandalism. A few windows are smashed and some high-value products are stolen. Your insurance includes theft coverage, so you file a claim detailing what was stolen and broken. However, your insurance claim is denied because you don’t have vandalism coverage.
Why you were denied: Insurance policies may separate between vandalism and theft, so you may be covered by one and not the other. If both occur, insurers might act in bad faith to absolve them from the responsibility of covering whatever you’re insured for. Insurance companies want to avoid paying out what they owe whenever possible – which hurts you in the end.
How a lawyer can help: The experienced commercial property insurance claim lawyers here at KFB Law won’t let insurers ignore good evidence. When they try to take advantage of you and ignore the facts of your case, let us fight for you. We know the tricks insurance companies use — and we know how to push back.
Example #2 – Lost Revenue from Business Interruption
The situation: Your warehouse or storefront has to close temporarily because of a blown generator or burst pipe. While waiting for repairs, you lose out of three weeks worth of revenue. That puts your business in a difficult situation because of lost sales. You file a claim to help take off some of the financial burden, but you get a pittance back.
Why you were denied: Your insurance believes you’re over-inflating the amount of revenue you’ve lost out on — even when you provide financial records of past revenue trends to show what you’re asking for isn’t out of the ordinary. They lowball you with a payout that gives you less than what you need to make up for lost revenue.
How a lawyer can help: A business property insurance lawyer can advocate on your behalf and get insurance companies to truly pay attention to your claim. We hold companies accountable when they’re not paying out what you’re owed.
Example #3 – Customer Injury
The situation: A customer slips and falls in your storefront and decides to pursue legal action with a lawyer of their own. You file a claim with your insurance company, but they’re slow in getting back to you. Meanwhile, the customer’s lawyer is breathing down your neck for compensation. You may never hear from your insurance or they may deny you without saying why.
Why you were denied: Insurance companies are notoriously slow at handling claims and may even deny you without providing an adequate reason. You may get lost in the shuffle, they might write you off on a minor technicality, or they might deliberately waste time to avoid paying out your claim.
How a lawyer can help: A commercial property claim lawyer can put pressure on companies to give your case the time and consideration it deserves. When they see our name on a claim dispute, they know to take us seriously.
What can an attorney do to help?
Our goal is to help you and your business get what you’re owed. When you’ve been denied or undervalued by your insurance company, the legal team at KFB Law can help you file a dispute and negotiate on your behalf.
First, we’ll figure out exactly why your claim was denied. Then, we’ll make a plan of attack that includes filing an airtight dispute and seeing it through until the final payout. We’ll give your business the attention it deserves.
For a free video consultation, just contact us. We handle claim disputes for companies across Florida — so you can focus on running your business.
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Contact One of Our Offices
- Tampa: (813) 875-5445
- St Petersburg: (727) 576-5784
- New Port Richey: (727) 846-1680
- Wesley Chapel: (813) 715-0938
- Plant City: (813) 757-1694
- Riverview: (813) 438-8216
We would be glad to meet you in person at our Tampa, St. Petersburg, New Port Richey, Wesley Chapel, Plant City or Riverview offices or at any location that is convenient for you.