Filing a commercial insurance claim in Florida can be tricky, especially when you are unsure of how to navigate the complex process. Understanding the common mistakes business owners make can help you avoid costly errors that may jeopardize your claim. Here are some key mistakes to avoid, and how Jenkins Law can help you protect your business’s interests.
1. Delaying the Claim
Probably one of the biggest mistakes that business owners make is waiting too long to file an insurance claim. Time is usually of the essence in Florida, and the delay in reporting your loss may mean a denied claim. Insurance policies usually have strict timelines for filing claims, so it’s essential to report your claim to your insurer as soon as possible after damage has occurred. Jenkins Law can help you understand these deadlines and ensure timely reporting.
2. Failing to Document the Damage
It’s also a mistake not to adequately document the damage before claiming it. Whether property damage or lost inventory, one must record all the details through clear photographs and videos, as well as write out everything in detail. Otherwise, your claim might be short-paid or denied. Jenkins Law will be able to guide you through the best means of evidence collection and presentation so that there is a fair process for your claim.
3. Misinterpretation of coverage limits and exclusions
Most business owners are unaware of how far their commercial insurance covers them. It could be that there is flood damage, or it may even be that you have particular limits on your policy to a certain amount for claims such as business interruption. In case you are not certain of what is covered and what isn’t, Jenkins Law will come in handy to peruse your policy and clarify all that is covered and all that is not.
4. Estimating Repair Costs
Insurance adjusters will often make an offer based on their assessment of the damage, but sometimes it might not be enough to cover repairs or replacement. An inadequate settlement might leave your business in a difficult financial position. Jenkins Law can help you negotiate with your insurance company to ensure that the settlement accurately reflects the full costs of repairing or replacing your property.
5. Not Seeking Professional Help
One of the biggest mistakes business owners can make is trying to handle the claims process themselves. Insurance companies are at best experts at minimizing a payout, and without the appropriate assistance, you could come away with a settlement well below what you deserve. Contact Jenkins Law for expert legal counsel in handling your commercial insurance claims so that you get appropriately paid.
This post was written by Kelly-Ann Jenkins of https://www.jenkinslawpl.com/. Kelly-Ann is an insurance claim Lawyer. The information on this site is not intended to and does not offer legal advice, legal recommendations, or legal representation on any matter. Hiring an attorney is an important decision, which should not be based on advertising. You need to consult an attorney for legal advice regarding your situation.
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