Every business needs insurance, and for an owner, legal exposure is simply part of operating. A good commercial policy limits the financial damage when something goes wrong. The catch is that the policy only helps if you understand what it covers, and the worst time to work that out is in the middle of a loss. Read the policy carefully while you have a clear head rather than trying to assemble it under pressure.
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The claims process itself resembles a personal claim, with one important difference: commercial insurers are more skeptical, because the dollars involved are bigger. After you report basic information and the reason for the claim, an adjuster is usually assigned, particularly where the damage is costly. That adjuster is there to decide whether coverage applies and what the claim is worth. Expect detailed questions and expect to document everything you say the policy owes you.
The adjuster's job is to see that the company pays only what it is legally required to pay, and part of that job is getting you to settle. Never agree to an offer you are not comfortable with, and do not accept payment if you believe the full amount is not on the table. Insurance companies come to the table with their own adjusters and their own attorneys. We are commercial insurance claims lawyers in the greater Philadelphia area, and we will review the policy, the denial, and the options with you at no cost.
Commercial Insurance Claims
Businesses, big or small, need insurance. Commercial insurance policies protect the business in all types of legal trouble. As a business owner, legal action is an occupational hazard. Good insurance mitigates financial damage to your business. Make sure you understand everything in your policy. Understanding your policy will save you a headache later. It is better to understand a complicated policy when you have a clear head than try to piece it together during a stressful time.
Freundlich & Littman, LLC are commercial insurance claims lawyers. If you are in need of a lawyer to fight your commercial owner’s insurance claim, we are here for you.
Making A Commercial Insurance Claim
A commercial insurance claim is a similar process to a regular insurance claim. Commercial insurers are more likely to be skeptical of fraudulent claims. The monetary stakes are higher.
Your insurance company will ask you to provide your basic demographic information and details about the reason for the claim. Especially if it involves costly damage, your insurance company will have an insurance adjuster contact you. The adjuster is there to determine whether there is coverage and if so, the value of your claim.
Prepare yourself for several questions about your claim. The insurance adjuster’s job is to make sure the insurance companies only pay for what they have to by law. Insurance companies may also need you to show proof for whatever insurance payouts you feel entitled to receive. Insurance adjusters will try to get you to settle your claim. In short, never agree to a settlement offer that you are not comfortable with.
If you feel that you are not getting the full amount that you feel entitled to, do not accept payment. If an offer from the insurance adjuster does not feel fair, do not hesitate to contact legal counsel to review your options. Insurance companies have a lot of weight in the legal world. They have adjusters and attorneys on their side. Depending on the size of your damage, an insurance attorney will be helpful to guide you through the process to ensure you receive the compensation you deserve.
Commercial Insurance Claims Lawyers
If your insurance company will not pay your claims, call us immediately. We are commercial insurance lawyers in the greater Philadelphia area. Insurance companies can take a few weeks to process your claim from start to finish. Contact Freundlich & Littman today to schedule a free consultation.
