When starting a business or purchasing real estate, commercial property insurance may be one of the first things you get. Each insurance company handles claims and uniquely interacts with customers. You may have wisely purchased what you believed was ample coverage to safeguard your livelihood and investment despite the hefty cost, only to incur loss and have the insurance company deny, delay, or drastically undervalue your claim.
Property damage claims can be complicated and frustrating to resolve. You have already suffered property damage due to theft, flooding, or another natural disaster. The claims process has made you feel like a victim once more.
Although insurance companies have deep pockets, they are hesitant to give money to those who fill those pockets. To protect their bottom line, they may take their time settling your claim, offer you an undervalued settlement, or deny your claim entirely. If you believe your insurance company has mistreated you, contact an experienced commercial claims lawyer Denver CO.
Before filing your commercial property damage insurance claim, you should take the following precautions to avoid common pitfalls:
Our commercial claims lawyer Denver CO legal team can assist you in identifying the steps and information necessary for your claim.
You purchase commercial property damage insurance to protect yourself from interruptions, delays, and lost revenue. Your insurance company will have similar worries when you file a claim, and you’ll both need to adhere to the policy’s guidelines. It is your responsibility to follow the terms of your policy and report your claim promptly and accurately. You must determine what is covered by your policy and what is not.
Speak with an experienced commercial property insurance attorney at The Chad T. Wilson Law Firm to determine the extent to which the damage you have sustained should be covered under the terms of your policy. We have extensive experience with commercial property insurance claims and will work with you to ensure that all policy terms are met. If you’ve suffered a loss due to a fire or another covered peril, the time to act is now—don’t put it off until it’s too late!
The Chad T. Wilson Law Firm is a versatile commercial claims lawyer Denver CO legal team. We handle cases against every major insurance carrier in Colorado and across the country. We represent many small and medium-sized businesses seeking fair settlements after suffering severe real or tangible business property damage due to a hurricane, storm, fire, or another covered event. Our primary goal is to persuade insurance companies and corporations to accept responsibility and fairly compensate our clients.
Denver, Colorado, is located in the South Platte River Valley on the eastern side of the Rocky Mountains in the southwestern United States, on the western edge of the High Plains. LoDo, the Lower Downtown area, is the epicenter of Denver’s nightlife due to the abundance of restaurants and bars. Towards the southwest corner of downtown, Larimer Square features century-old structures housing various businesses, including restaurants, brewpubs, and nightclubs. Boulder, home to the University of Colorado and located just 26 miles north of Denver, is a lively college town with plenty to do after dark and annual events like the 7-week-long Shakespeare Festival.
Failure to file a claim may force you to pay for all necessary repairs out of pocket. You may find that your insurance no longer provides protection. If you have a history of failing to file claims, your insurance company may refuse to renew your policy.
If your insurer acts in bad faith by failing to honor its commitment to provide timely coverage and then denying compensation when damage occurs, you could file a lawsuit against that company. An attorney can advise you on whether you have grounds to file a lawsuit and can help you gather evidence, file documents, and other aspects of litigation.
Discuss your options for appealing the refusal with an insurance law specialist. Legal action may be required to recover damages if you cannot agree with the insurance provider.
A property claim is a type of insurance coverage that safeguards your commercial property against damage and theft. It may also cover damage to the business owner’s personal property. What your policy determines your policy covers and how much you pay in yearly premiums.
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