Different Types of Commercial Claims and How to Handle Them

All businesses, whether large or small, are bound to experience certain mishaps. It is advisable to get commercial insurance policies that will protect your business income and operations in the event of such unfortunate accidents.

However, handling insurance claims can be a complicated process, which is why it is important to work with an experienced insurance agent who will help guide you through the claims process to ensure quick recompense.

Types of Commercial Claims

There are several different kinds of commercial insurance claims that could be made. If you do not have an attorney to fight for you when situations that require filing a commercial damage insurance claim arise, you may need claim adjuster services. Let’s take a look at some of the different types of commercial claims.

1. Burglary and Theft: According to research, about twenty percent of industrial claims are related to theft, which makes burglary one of the most common business insurance claims cases. No business, regardless of its size or prominence, is above the risk of burglary or theft.
2. Fire: Fire damage is another common type of insurance claim for businesses. While you can put precautions in place to help mitigate the risks, it is impossible to guarantee your property won’t suffer fire damage at some point in time. Smoke and fire damage can be extremely expensive and cause extensive damage to your business. Having the proper protection in place is crucial to protect your business interests.
3. Weather Damage: Weather-related damages are highly dangerous as business owners who suffer from them usually find it difficult to restart their business without an insurance policy after the disaster. This is because occurrences like snow, wind, hail, or frozen pipes can cause long-term damage interrupting the business operations for a long time.
4. Customer Injury: Accidents involving your customers can happen at any time. Protecting yourself and your business with a policy that allows you to submit a cash insurance claim in a situation like this is the best thing to do. This will save you from bearing the consequences of a lawsuit if the customer chooses to file a claim against you.
5. Struck by Object: This is similar to customer injury claims. This type of claim is specific to injuries sustained from being struck by an object. Certain businesses have a higher risk of these types of claims, such as construction sites and businesses that carry merchandise that is stored on shelves accessed by customers.

How to Handle Denial of Claims

There are many reasons why your commercial claims could be denied, such as a suspicion of fraud, limited policy coverage, a lapse in the time allowed for filing a claim, etc.

If you believe that your claim has been wrongfully denied, write a letter to your insurance provider outlining why you think they have made a mistake in denying your claim. Also, make sure you have all the records related to the incident and your insurance policy is up to date to streamline the review process. Having accurate records is the best way to ensure there are no mistakes or miscommunications with your insurance company.

Our experts at Pittman Insurance Group, LLC are available to discuss and clarify any questions you might have about commercial insurance and the claims process. Contact us today to get answers from our experienced representatives.

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