Thankfully, the storm was downgraded to a Category 1 instead of a Category 3, contrary to the predictions made by forecasters. Even though the storm weakened, the damage it caused was serious - requiring extensive cleanup throughout the Mid-Atlantic coast.
The storm knocked out power for millions, knocked down trees, ripped shingles off roofs, tore siding off homes, and flooded streets and commercial buildings. The damage was so severe that a precise estimate on the impact Hurricane Irene will have on insurance claims has not been determined. Some are estimating that the storm caused damages anywhere between $4.7 billion and $35 billion.
Because of the substantial financial loss insurance companies are incurring from the impact of the storm, policyholders and affected business owners are left wondering if their insurance policies will cover their commercial building damages and losses.
Businesses that were affected by the storm have a sense of urgency to get compensated for their losses because they need to reopen in order to start making a profit. However, because of the long list of property insurance claims that insurance adjusters are dealing with, there are long delays in getting commercial insurance claims paid.
In order to get your commercial insurance damage claim paid, make sure you do the following:
- Contact the insurer ASAP. Do not attempt to clean up the damage before an inspector from the insurance company visits your business.
- Keep damaged electronics, supplies and merchandise. If you remove the damaged goods while attempting to clean, you may be misrepresenting how bad the damage really was, which could cost you financially. If you have to clean up, keep your damaged items in another location as proof.
- Document all damage that occurred. Be sure to take photographs of everything before cleanup efforts are conducted. This way you will have proof of how bad the damage really was.
Pursuing commercial insurance claims is exhausting, and insurance adjusters are notorious for giving lowball estimates. If you find this to be the case in your situation, you have rights. It is important that you appeal their estimate, and that you hire a skilled commercial insurance claim attorney.
Call an experienced hurricane insurance claim lawyer at the Voss Law Firm at 888-614-7730 to schedule a free legal consultation today, and find out more about your rights.