Commercial Property Storm Damage Insurance Claim Lawyers
Unfortunately, physical damage to structural elements caused by natural disasters and other storms is an inevitability for most San Antonio commercial property owners. Whether damaged due to storms, burst pipes, vandalism, or other potential threats, commercial property owners have legal options for pursuing what they are rightfully owed during insurance claims. However, insurance companies are not always operating in good faith, and policyholders sometimes have to fight to recover a fair value for their lost income. If you are considering legal action against an insurance company so that you can recover replacement costs and other compensation for your storm-damaged property, we recommend working with an experienced legal team who can help you throughout the process.
Our specialty law firm is uniquely qualified to help commercial and personal property owners seek the compensation they are owed and hold accountable insurance companies who act in bad faith. We have represented commercial property owners, homeowners, municipalities, small business owners, and school districts for years. If you have damaged property, you must act quickly to preserve your insurance claims and protect your business from further damage.
To learn more about our legal services, please contact our San Antonio, Texas, law firm to schedule your free consultation today.
What Makes Texas Commercial Property Insurance Policies Unique?
Policyholders in Texas face unique insurance challenges when looking after their commercial properties. Many of these challenges are not unique solely to Texas but can be especially challenging to those living along the Gulf Coast.
In so-called ‘high-risk’ areas of Texas, we are seeing higher insurance coverage rates and building materials costs. With the increased nature of natural disasters in our state, particularly hail storms, flood damage, hurricanes, tornadoes, and ice storms, insurance companies have felt justified in adjusting their coverage limits and pricing models.
With the increased frequency of commercial property insurance claims, insurance companies have increased deductibles, particularly for wind and hail damage. This is meant to help share policyholders’ risk for commercial building coverage in Texas. While a higher deductible may make insurance coverage more affordable monthly, it could pose a financial risk to property owners if Physical damage or loss occurs.
Additionally, some insurance company providers are leaving the market due to the high risk of ensuring commercial properties in Texas, especially in high-risk areas that have seen natural disasters. This leaves businesses with fewer choices for commercial policies, as well as less flexibility.
What Does Your Insurance Policy Typically Cover?
In Texas, commercial property insurance is essential for protecting business owners and those with commercial properties and operations. This insurance coverage looks after your commercial property and covers damage or destruction of a company’s essential assets or properties.
In most cases, commercial property insurance covers the following:
- Building coverage: this coverage covers losses directly impacted by accompanying buildings, including permanent fixtures, machinery, and business equipment. Not only are the four walls, things, and floors of a commercial warehouse protected, but so is the building’s other permanently installed equipment. Coverage limits must be thoroughly understood to truly be aware of the coverage options and the extent of the coverage that your policy offers
- Business property coverage: business property coverage relates to non-permanent items and fixtures that do not fall under the coverage provided by typical building coverage. Business property coverage refers to items such as business inventory, documents, paperwork, furniture, tools, and equipment that may be housed within the commercial property
- Personal property coverage: this type of insurance covers the personal property under a commercial property owner’s control, care, or custody. Although many commercial property owners also have personal property coverage, there are also many that do not. The type of business you run may determine whether you also require personal property coverage
You may consider additional coverage options. Windstorm and hail coverage on the Gulf Coast may be especially useful to some commercial property owners. Additionally, crime coverage can protect property owners from damage caused by robberies, burglaries, and employee theft. Contact our legal team to ensure you have the most comprehensive coverage available to protect your business and income.
What Are Common Causes of Commercial Property Damage?
Many different factors, including potential human error or neglect, can cause commercial property damage. Our law firm is focused on helping clients recoup replacement costs from their insurance agents after their business suffers storm damage.
Some of the most common causes of commercial storm damage in Texas include the following:
- Accidents
- Animals and insects
- Burst pipes
- Damaging wind conditions
- Electrical fires
- Explosions
- Failing equipment, such as generators
- Fallen trees
- Fire and smoke damage
- Flood damage
- Hail damage
- Lightning damage
- Looting and theft
- Mold and mildew
- Physical damage caused by sprinkler systems
- Slip and fall accidents
- Storm damage, including damage caused by tropical storms and hurricanes
- Vandalism and graffiti
In many cases we’ve represented, some of these causes of property damage are not covered by the typical commercial property coverage that most businesses obtain. In such cases, commercial property owners will find it difficult to recover lost income and replacement costs from an insurance company provider.
To learn more about your insurance policy terms and what is and is not covered by your policy, please contact our law firm for legal assistance. You may schedule a free case review at any time.
When Do You Need the Legal Services of a Commercial Property Damage Lawyer?
You bought your insurance policy with the understanding that the insurance company would be there for you when you needed it. Now, the time has come for them to pay what you are owed, and they are coming up with reasons to deny you that. To ensure that your insurance policy is being rightfully honored and that your legal rights are being defended, you must retain the professional representation of experienced commercial damage attorneys.
Our San Antonio law firm is uniquely qualified to represent cases involving commercial property damage caused by storms. We are highly reputable and have a strong track record of success for our previous clients. When your insurance agent seems to have professional legal representation from our firm, they are likely to take you more seriously and work to resolve your claim more promptly.
Retain our legal counsel for assistance to ensure that insurance company providers are held accountable and are not acting in bad faith. We can help you take the reasonable steps necessary to resolve your claim and get you the financial compensation you deserve. To learn more about how our lawyers can be of legal assistance, please schedule your free case evaluation today.
What Are Different Types of Commercial Property Damage Claims?
There are several different types of commercial property damage claims, and these include:
- Business interruption loss: when weather damage causes business interruptions that lead to loss of income or clients, you can be protected by business loss insurance
- Inventory and stock loss: if you have lost inventory or stock due to storm damage or destruction, commercial loss insurance can help cover these losses
- Machinery and equipment damage: storm damage that has negatively affected machines and business equipment can make that equipment dangerous for commercial use. The proper insurance coverage may protect you
- Structural damage: physical damage to the structural elements of the building, such as beams and load-bearing walls, may make the building dangerous to occupy. Get the proper insurance coverage to pay for such damages
What Happens After Commercial Property Owners File a Damage Claim?
The claims process for seeking financial recovery for commercial property damage can be complicated. It is highly recommended that you retain professional legal counsel.
After your business experiences a physical or commercial loss, you must thoroughly document the damage and loss to receive the appropriate coverage payout. You must then notify your insurance provider in a timely manner of the damage sustained. There may be a claim deadline within the language of your insurance policy. Ensure that you include thorough and meticulously gathered property damage documentation when you send in your insurance claim.
Once the insurer receives your claim and documents, an insurance agent will likely visit the damaged property to evaluate matters and potentially ask you questions. After reviewing the report of the insurance agent on the ground, an insurance company will then render its decision. At this point, it is possible for insurance companies to deny even the most valid claim. A thorough explanation of the denial should accompany any potential denial of coverage.
In some extreme cases, the insurance company may request an examination of the facts under oath.
Whether you have received a denial or are otherwise unhappy with the insurance company’s decision, now is the time to contact a lawyer to discuss your case. Our commercial property damage attorneys have extensive experience representing clients in complex cases like yours. Please schedule your free, no-obligation case evaluation with our legal team today.
What is the Texas Statute of Limitations for Property Damage Claims?
In most cases, you have up to two years from the date of the damage to file a commercial property damage claim in Texas. However, you should take reasonable steps to file your claim in a timely manner. Act quickly, as your policy may have tighter restrictions.
Why Might Your Insurance Provider Deny Your Property Damage Claim?
Unfortunately, insurance claims are fairly common to be denied by insurers. Sometimes, these denials are in bad faith. Like that, the majority of claim denials you may receive are likely legitimate and in good faith. But that doesn’t mean that you have to give up just because your claim has been denied. You still have legal options for recovering the compensation and replacement cost you deserve.
Common reasons for a commercial property claim to be denied include:
- Actual losses that exceed commercial policy limits
- Bad faith arguments
- Failure to notify the insurance company promptly
- Improper documentation
- Losses that are outside the scope of the insurance policy
- Suspicion of fraud
- The failure of the insured to pay premiums on time
What Are Bad Faith Tactics of Insurance Companies?
Insurance companies will try just about anything to wiggle out of spending the money that they should for an insurance claim. Sometimes, this means that policyholders receive far less in terms of financial compensation than they otherwise rightfully should have.
Commonly recognized bad-faith tactics include the following:
- Delaying or denying legitimate claims in the hopes that a policyholder will eventually give up their fight
- Misrepresentation of the cause of the commercial loss
- Underestimating the extent of business losses and physical damage
How to Dispute the Denial of a Valid Claim?
If the insurer has denied your claim, you must take legal action to contest the decision and protect your rights.
First, we recommend consulting with our law firm. Our lawyers can help you review the denial letter and understand why coverage was rejected.
Next, we will gather all relevant evidence and documentation, including repair estimates, photographs, videos, e-mail communication with insurance adjusters, and other pieces of proof that could support your claim. Then, we will work with you to contact the insurance company to request a reevaluation of your insurance claim. Hopefully, with the additional evidence provided, as well as our legal representation, the insurance company will reconsider.
What Are the Compensation Options for Commercial Property Owners in TX?
After an insurance company decides to cover a claim, the insured and their attorney must work together to settle the claim by reaching an agreement on a fair value for the damaged property.
Once you agree on the cost of repairs and replacements, you will submit a final bill to the insurance companies for financial reimbursement. Do not be deterred if arriving at an agreeable settlement takes some time and negotiation. Our legal team will be in your corner throughout the negotiation process.
How Can Our Texas Commercial Property Damage Attorneys Lend Legal Assistance?
There are several benefits to retaining professional legal counsel when submitting a commercial property damage claim to the insurance company.
We can provide an in-depth review of your insurance claim and policy terms.
We will help you understand the legal and commercial options available to you.
We will take over the management and concerns of gathering and submitting all claims-related paperwork and documentation.
When necessary, we will seek expert witnesses’ testimony to help analyze your claim.
Our legal team is experienced in negotiating with reluctant insurance company providers. We will work with you to ensure that you recover the compensation you deserve.
Schedule a Free Consultation to Discuss Your Commercial Property Damage Claim Today
Stormlex Law Group is a law firm composed of attorneys dedicated to helping clients recover compensation from insurance companies after sustaining storm damage. Our San Antonio, Texas, law firm offers a free in-depth no obligation case evaluation to prospective new clients interested in retaining our legal services. If you have questions or concerns, please contact our law office to schedule your free consultation today.
You may reach us at 877-890-6372.
