Industrial properties can suffer extreme damage in the fury of a hurricane, and that damage can be devastating to the businesses affected. The losses may come in the form of damage to the building, the loss of its contents, damage to equipment, business interruption, or all of the above—and it’s often extremely costly to rebuild and move forward. To add to the tragedy, there is also the stress of working with clients and employees as you attempt to recover from the storm and protect your business’s good name.
Although industrial properties are generally insured for exactly these reasons, policyholders can still run into problems with their claims in the aftermath of a hurricane. While insurance companies are legally required to treat policyholders fairly, they sometimes deny, delay, or underpay industrial insurance claims after a hurricane in “bad faith.” Each state has its own laws regarding how insurance companies should behave, but some typical examples of “bad faith” actions might include:
- Denying your hurricane claim outright before reviewing the details.
- Making an offer for far less than your claim is actually worth, regardless of the facts of your case.
- Refusing to investigate your claim, even though the statute of limitations hasn’t expired.
- Not responding to your phone calls, emails, and letters.
- Delaying resolution of hurricane insurance claims without good reason
“Bad faith” tactics from the insurance company or adjuster take many different forms, and it’s especially important to be aware of your rights as a policyholder after a large-scale disaster has affected your business and property. If you have done your part to submit your hurricane insurance claim appropriately and are still having trouble getting fair treatment from your insurer, it may be time to take the next step forward in resolving your claim.
What to Do If You Believe Your Industrial Hurricane Insurance Claim Was Denied in Bad Faith
Because hurricanes can do such extensive damage to industrial properties and the business they conduct, many policyholders feel that accepting a denial or inadequate settlement from the insurance company simply isn’t an option. If your claim for hurricane losses has been unfairly denied, or if you are filing a complex claim and just want to cover all your bases as you work through the claims process, contacting an attorney to talk about the situation should be your next step. An attorney can be a big help to you by:
- Explaining and protecting your rights. The rights of industrial businesses, whether large or small, are often complex and tied up in jurisdictional issues and industry regulations. Even basic insurance policies for these properties can be complicated, but an attorney experienced with similar kinds of cases can make sure that you are treated fairly and know what your options are.
- Proving the extent of your losses. Many disagreements about hurricane insurance claims come down to the differences between the real value to repair or replace and what the insurance company is willing to offer. An attorney can arrange for construction experts and others to look at your hurricane damage and help you build on the facts of your case.
- Preparing a claim against an insurance company that has acted in bad faith. Insurance companies can be held responsible when they act unfairly and deny legitimate claims. An attorney can help you prepare a “bad faith” claim against the insurer and represent you through resolution and beyond.
Insurance companies have a duty to act in good faith and treat policyholders fairly. When they fail to do so, the policyholder can take action to hold the insurance company accountable for its “bad faith” behavior. The Voss Law Firm is one of only a handful of law firms in the nation that handle industrial property insurance claims and disputes, and we have worked with industrial policyholders ranging from local business owners to multi-national corporations. To learn more about what we do and how we can help you with an insurance claim after a storm, reach out to us at 1-888-614-7730 or fill out our confidential contact form.