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.
If you’ve ever juggled any of these tasks in the past, you probably remember the process as long, tedious and complex. As you worked through the claim process, you no doubt realized that hiring a professional to manage your claim would have been a far wiser move.
You Have the Right to Expert Representation
When you have a knowledgeable claim professional acting on your behalf, it removes a lot of the responsibility from your shoulders. When someone else is taking care of the coverage, damage, and settlement details, it allows you to step away from the day-to-day claim complications and focus on restoring your business. It makes sense to hire a professional to manage your commercial property loss, but should you hire a public adjuster or an attorney?
What Can an Attorney Do?
Before you ask your business attorneys to handle your commercial property claim, you should understand that few attorneys have the background and expertise to make the process flow smoothly. When attorneys handle commercial property claims, they must outsource key activities such as investigating the cause and origin and independently evaluating your damages. They may also hire experts to calculate your business interruption losses and other aspects of your claim.
Lawyers don't usually handle property claims, but they do have the inherent legal expertise to control some claim aspects on your behalf:
Analyze your policy and resolve coverage disputes
Sue your insurance company if they act in bad faith
Informally or formally contest a declination of coverage
Under certain circumstances, these legal services can be crucial to resolving your commercial property loss. If your legal team must resort to formal court actions, they must help you cooperate and fully comply with “Your Duties In The Event of a Loss” before they can take formal legal steps.
When it’s important to get your business back up and running, you may not have time to wait while your attorneys work through your legal options.
What Can a Public Adjuster Do?
When you hire a public adjuster, you have an experienced insurance professional managing your claim. Public adjusters have an extensive background in commercial property losses. They know how to interpret commercial insurance policies, evaluate property damage, document business interruption losses and work with contractors. They perform the same duties as insurance company adjusters, except they represent the insured instead of insurance companies.
A PA provides a wide range of property claim services that make the claim process easier for you.
- Investigate your claim
- Evaluate your damages
- Address coverage problems with your insurance company
- Deal with repair contractors
- Help with documentation and Proof of Loss
- Help you properly present your business interruption expenses
- Negotiate your best settlement
You Have Options
If you have past experience handling a commercial property claim, you know it's important to make the process go as smoothly as possible. You have the option to choose a professional that offers the services you need for a reasonable price.