Filing A Property Damage Claim On Behalf Of Your Small Business
As a small business owner, unexpected problems often arise that can cost you both time and money. When it comes to mishaps that occur on commercial property, insurance policies you have in place can help prevent out-of-pocket losses. Find out common types of damages that are covered and the steps you need to take in filing a commercial property damage claim in Daytona Beach.
Common Types of Commercial Property Damages
Business owners purchase commercial property damage insurance as a precaution but generally do not expect to use it. However, according to a recent study by The Hartford, more than 40 percent of all small business owners will end up filing a property damage claim at some point over the next ten years.
Damage due to heavy winds is one of the most commonly cited causes in commercial claims. Considering the odds in terms of tropical storms and hurricanes, business owners in Daytona Beach are at greater risk. Other common types of commercial property damages include:
- Losses due to theft;
- Destruction of property due to vandalism;
- Major equipment malfunctions;
- Commercial vehicle accidents;
- Fires;
- Damages due to mold and other causes.
A commercial property damage claim can arise out of so-called ‘acts of nature’, criminal activity in the area, or due to an employee’s oversight or negligence. Property damage insurance policies help protect you in these situations. It can also help you avoid being held personally liable if a customer is injured on your property.
Steps To Take When Filing A Commercial Property Damage Claim
One of the most important things you can do to protect yourself and your small business is to review any commercial property damage insurance policies you currently have in place. The Insurance Information Institute (III) advises that general commercial liability coverage protects against property damages, bodily injuries, and libel, slander, or other types of advertising liability.
You should also have a complete written and digital inventory of all items on your commercial property. This makes filing a claim easier and helps ensure you get the maximum amount in any settlement. Include the current value of all property, as well as replacement costs. In the event commercial property damages do happen, follow these steps:
- Notify the police so that an incident report can be filed;
- Survey the properly thoroughly, making notes about the various types of damages;
- Take pictures and videos, which can help support your claim;
- Notify your insurer right away;
- Keep records pertaining to any lost income or sales you suffer as a result.
Contact Us Today for Help
At Bundza & Rodriguez, we act as a strong legal ally on your side when commercial property damages happen. We protect you and your small business, representing you in dealing with insurance companies and helping you get the maximum amount in your claim. To request a consultation, give us a call or contact our Daytona Beach property damage attorneys online today.
Resource:
newsroom.thehartford.com/newsroom-home/news-releases/news-releases-details/2015/The-Hartford-Reports-More-Than-40-Percent-Of-Small-Businesses-Will-Experience-A-Claim-In-The-Next-10-Years/default.aspx
