Tips For Avoiding Commercial Property Insurance Claim Delays

Filing a claim for your commercial property insurance can be a timely process subjected to delays if prior steps are not properly taken. It is important to not file a claim carelessly so that commercial property insurance delays can be mitigated. Here are some tips to reduce the chances of a delay or denial:

Make Haste

There are likely many fine details packed into your insurance policy, and you should ensure that you are aware of what is or is not covered. This will allow you to respond faster and report your claim in a timely manner. Work with the insurance company adjuster through the process, and respond as quickly as possible once you are certain about all the information you are giving. If a substantial amount of time has gone by without a reply, you may want to contact the adjuster again.

Proper Organization

Depending on the situation, a hefty amount of work may be needed to document the losses incurred. Being organized with your paperwork early on can definitely help the process run smoother. Split a binder into several sections to categorize loss of use of living space, contents loss and inventory, dwelling loss, and other miscellaneous expenses. Remember to also document receipts and provide photos where possible. Keep a section for your own notes as well, such as previous claims and verbal conversations with your insurer’s adjuster or your public adjuster.

Finding a Contractor

If the damage to your property was due to a natural disaster, you should quickly locate a capable, qualified contractor to help estimate the costs for repairs. The earlier you can be sure of the costs, the quicker you can submit the documented estimate for payment. This can also reduce the risk of disagreements with the insurance company during their own inspection.

Familiarize Yourself with Claim Terms

There are three terms associated with insurance claims that will affect the amount you can get:

  • This is the reduction in value from all causes, such as wear and tear.
  • Actual Cash Value. This is the “old” value of the item that someone would have paid you just before the loss.
  • Replacement Cost. There are new costs to repair or replace damaged property with one of the same likeness or quality.

Many times the insurer would not volunteer to cover the full amount to replace or repair all your damaged items. Instead, you have to go ahead and replace them before sending the receipts to the insurance company and demanding reimbursement.

Hire an Expert

It can be frustrating if the insurance company adjuster you are liaising with is not responding satisfactorily to your queries. In addition, jargon and legalese in insurance policies may make it a frustrating experience to sort through. In this case, you may consider hiring an expert public adjuster like Stone Claims Group who is familiar with the process and can help you analyze policy coverages, inspect the property, document and maximize claim settlements, and negotiate with your insurance company for you. Whilst insurance adjusters work for insurance companies, Stone Claims Group works for you to fight for fairness.


    Notes (optional): "Please feel free to address anything else (your title, number of buildings, number of stories, number of units, etc.)"