When is Coverage Triggered for a Roof Collapse?

It may seem like you would know when a roof collapse has happened (and when you could claim it on your insurance policy). But when you think about it, roof collapse is more of a process than a single event. It doesn’t just collapse out of nowhere. The collapse begins when the roof shows signs of distress. Prolonged distress on the roof--from the elements, or time spent delaying repair the roof--may mean collapse is imminent, even if the roof is still intact on the building. And of course, roof collapse is complete when the roof crumbles to the ground and has to be completely replaced.

When your business premises is damaged by an insured cause of loss, there a number of reasons why you might decide to handle your own commercial property claim.

When a fire damages your commercial building, it sets into motion a complicated recovery cycle that can takes months to complete. Assessing the damage is just the beginning, but if you don’t get that part right, the entire recovery process can become more complicated than it has to be.

Settling a commercial property insurance claim is a complex transaction. Though your first impulse after a catastrophe may be to do whatever it takes to alleviate the loss and get back to business as usual, that rarely results in getting you the best settlement. This is definitely a situation where haste makes waste, as accepting an insurance adjuster’s opinions, or your insurer’s first offer of settlement, will likely lead to a settlement that is far below the figure you deserve.

When you experience business fire damage, it may become a front page headline, a six o’clock news story or an internet blurb. Such public awareness may bring a parade of contractors, fire restoration services, and other companies to your place of business. These professionals know you’ll need them sooner or later, so they may fill your mail slot or entryway with offers for inspections, courtesy estimates, and discounts.

Commercial property claims are complicated, so insurance companies send out their most experienced adjusters to handle them. Seasoned adjusters know damage and coverage issues, and while their experience and knowledge should be a comfort to you as you rebuild your business, they can actually make the process more difficult.

Commercial property loss claims are extremely complicated. If your business has suffered a catastrophic loss, your focus is typically on maintaining operations and making critical recovery decisions. It’s not the time to be learning the ins and outs of your insurance policy or the loss claims process.

When you submit a commercial insurance claim, taking charge from the start will help you secure your business's interests. Certified public adjusters will tell you how to take the lead in negotiations - and how to hold that lead until you have what you want.

When you manage a commercial property loss for your business, things can get complicated very quickly. You must resolve issues related to building repairs, damaged personal property, and lost business income. You must establish a working relationship with repair contractors, service professionals, and property insurance claim adjusters. These efforts will take up a lot of your time and they will run simultaneously with your efforts to get your business back up and running again.

You invest your time, money, and resources to keep your business up and running. Despite your hard work and dedication, a single mishap or natural disaster could force you to close your doors forever. A comprehensive insurance program with property, liability and business interruption coverages is the best way to avoid post-disaster outcomes. You probably know the basics of property and liability insurance, but do you understand what’s really covered by your Business Interruption Coverage?