Manufacturing plants, warehouses, factories, and other industrial properties are often severely damaged in tornadoes and tornado-producing storms. Whether they have to reduce production while repairs are made or halt operations entirely for months on end, industrial properties can lose millions of dollars in damages—literally overnight. These properties often contain a number of specialized features that are necessary components of a facility’s operations, but many of these common features can also make industrial properties vulnerable to costly losses in a tornado. Here are some examples:
- They are often very large properties with hundreds or thousands of employees.
- They usually contain all kinds of costly or specialized machinery, tools, stock, and equipment.
- When a tornado hits, safe shutdown and loss-mitigation procedures are a major concern.
- Roofing on large or open structures can be destroyed by tornado winds, which can even lift a roof of a structure or cause a collapse.
Even when you’ve carefully planned ahead and reasonably prepared your industrial property for potential storms, losses are still a possibility for these specialized facilities when a major tornado hits. And, unfortunately, many industrial policyholders also run into major challenges when attempting to settle their insurance claims for the damages.
Denied, Delayed, and Underpaid Claims Make Industrial Tornado Claims Even More Challenging for Policyholders
The priority is always on repair and recovery when an industrial property is hit by a tornado, but delays, denials, and underpaid claims can keep a facility out of operation for months or years after the storm. Whether it is difficulty agreeing to the cost of the damages or a misunderstanding about your policyholder rights, struggles with the insurance company can add to an already challenging recovery. As time wears on, you can even be tempted to give up on the struggle and accept a settlement that is too low, just to get it all over with and get the facility back in action. However, don’t make a mistake that could hurt your business for years to come.
If you have a question or concern about an insurance claim for tornado damage to an industrial property, don’t hesitate to reach out to our legal team today at 1-888-614-7730 for answers. The Voss Law Firm offers skilled legal support to industrial policyholders all over the nation who are struggling to recover from severe weather and natural disasters, and we would be happy to talk over your concerns in a completely free case review to help you get the information you need to move forward.