Commercial Property Claims and Bad Faith Insurance
1-888-HDZLAW-8 Alex R. Hernandez Jr. Trial Lawyers PLLC
Damage to your commercial property can interrupt your business in a big way. In many cases, the true extent of damage becomes apparent only as time passes. Apart from the cost of setting up operations once again, you have to contend with income losses until the business is able to function smoothly once again. Commercial property insurance provides businesses with protection against such losses, but only if the insurance companies stay true to their part of the deal.
In many cases, insurance companies try to delay compensation or reject the claim outright. In such cases, you should consult a law firm that is experienced in handling commercial property claims. The Law Offices of Alex R. Hernandez Jr. is well versed in real estate law and can help you get compensated for commercial property claims such as business claims, church claims, roof damage, fire damage, theft claims, storm damage claims, plumbing damage claims, and condo claims.
Commercial property claims include
- Damage – Injury to buildings, machines, existing inventory, and raw materials.
- Business Interruption – A very important aspect of coverage that can recompense you for the loss that occurs because of the interruption. It pays your business so that you earn an income equivalent to your estimated profits and covers operations costs for a period of time.
- Extra Expenses – These may arise because of a need to move a business to another location or an increase in costs of running a business because of the increase in expenses are covered.
- Loss of Business – This may be due to damage to a third party that’s covered under Contingent Business Interruption.
- Ordinary Payroll Coverage – This ensures your employees are paid their salaries on time.
- Loss of Rents – This ensures that you don’t lose rental income if the property is damaged because of an even covered under the insurance policy.
Delays and denials by insurance companies are particularly damaging for small businesses. Insurance companies that deny claims present a major hurdle on your path to early and swift financial recovery. Our experienced real estate and property lawyers know how to counter them. For example, insurance companies may take the stand that there has been no loss of revenue during the reconstruction phase. However, the fact of the matter is that your business will suffer losses because of damaged machinery, destroyed inventory, and customers lost. Our real estate law experts can bring these discrepancies to light.
Once you’re ready, you will have to spend a lot on spreading awareness that you’re back in business. These are costs that the insurance company will try to wash its hands off. Our property lawyers can present you with an evaluation of the extent of your present and future losses to present to the insurance company or court in case of litigation.
Contact our real estate law experts for a free consultation today. Call Alex R. Hernandez Jr. at 1-888-HDZ-LAW-8 your Commercial Property Claims Insurance Attorneys.