How To File A Commercial Property Damage Claim In Daytona Beach
Property damages in Daytona Beach happen for a variety of reasons. Storms, fires, vandalism, and theft are among the unexpected events that can result in major losses. It is not only residential home owners who are at risk. Commercial property owners can suffer major damages that leave them facing hundreds of thousands of dollars in out-of-pocket costs. Insurance coverage you have in place can help offset these expenses. Find out more about how to file a commercial property damage claim in Daytona Beach.
When Commercial Property Damages Happen In Daytona Beach
Commercial property damage insurance protects business owners against losses. It covers things like flooding, storm damages, electrical fires, and burglaries. It can also help you avoid personal liability in the event someone is injured on your property.
Unfortunately, despite paying high costs in premiums, getting insurance companies to pay when losses occur often proves challenging. When commercial property damages do happen, the Insurance Information Institute (III) recommends taking the following steps:
- Contact your insurance company right away. Delays in reporting losses are a common reason for denied claims.
- Notify the police. If losses occur due to vandalism or theft, you will need an incident report and may want to pursue charges.
- Gather all policy documents. Keep a copy of your property damage insurance policy handy and carefully review the terms to protect your rights in filing a claim.
- Document your losses. Make an inventory of all damages and take photos or videos to use as evidence. Include any lost income due to business interruptions.
Protecting Your Rights In A Commercial Property Damage Claim
There are other steps you can take to protect yourself when commercial property damages happen. These include accompanying the insurance adjuster on inspections, getting estimates for repairs, and keeping a folder with receipts and statements documenting out-of-pocket costs. There are also some important ways you can protect yourself prior to filing a claim. These include:
- Make an inventory in advance. Include supplies, equipment, furnishing, inventory, and other items you want to ensure are covered. Be sure and update it regularly.
- Get values for insured items. Include the original price, current value, and potential repair/replacement costs.
- Make sure you deal with a reputable company. The Florida Department of Insurance can provide additional information about insurance companies licensed in the state.
- Do routine inspections of your property. Damages can go unnoticed, leading to more serious issues. Routine inspections help to prevent this.
Let Us Help You Today
Commercial property damages can wreak havoc with your business. They can cause thousands of dollars worth of harm to business structures, supplies, and inventory while leaving you vulnerable to personal liability. For help in dealing with insurance companies in the aftermath and to protect your rights in filing a claim, reach out to Bundza & Rodriguez. Give us a call or contact our office online and request a consultation with our experienced Daytona Beach property damage claims attorneys today.