Hurricanes, tropical storms, flooding, and water infiltration leave commercial property owners especially vulnerable to damage due to Florida’s unusual climate and geographical characteristics. After a disaster, the filing of a commercial property insurance claim may feel like a second storm, full of paperwork, inspections, and negotiations. To ensure that your business gets the compensation it deserves, you mustn’t rely upon a bare-bones claim. You will need strategy, preparation, and doggedness.
Tips To Help Florida Business Owners Maximize Their Commercial Property Insurance Settlements
1. Start With Immediate Action
Time is of the essence post-loss. The longer you wait, the more difficult it will become to prove your claim. Action must be taken as soon as you notice the damage:
- Notify your insurer preferably within 24 to 48 hours.
- Secure the property to prevent more damage from occurring (board windows, tarp roofs, shut off utilities).
- Document every detail before clean-up.
- Insurers may deny claims if it is believed that you did not mitigate your damage, so go ahead with haste but wisely.
2. Document Like a Pro
Detailed documentation is the backbone of a successful claim. High-resolution photos and videos of all damage should be taken, including structure, equipment, and inventory. Make a written inventory of every item that received damage, listing its value, model number, and replacement cost.
If possible, gather:
- Purchase receipts or some accounting records.
- Maintenance logs.
- Before-and-after photos.
Such records help prove not just what was damaged, but its condition before the loss.
3. Get Independent Estimates
Insurance adjusters work for the insurance company — not for you. Their job is to settle the claim for the least amount possible. Hire your own licensed contractor, engineer, or public adjuster to provide an independent estimate of the damage. This way, you will have independent verification of the true cost of repair or replacement before you ever accept an offer.
Independent experts can also find hidden damage, such as structural weakening or mold growth that insurers often overlook.
4. Understand Your Policy Inside and Out
Commercial policies come thick with specifics on exclusions and coverage limits. Review key sections such as:
- Business interruption coverage: Pays for lost income during repairs.
- Extra expense coverage: Covers costs of temporarily relocating or resuming operations.
- Debris removal and ordinance coverage: Pays for cleanup and compliance with updated building codes.
The more you understand your policy, the better equipped you’ll be to challenge low estimates or unjust denials.
5. Keep Precise Records of All Communications
Maintain a log of every phone call, email, and letter to and from your insurer. On each occasion, the date, time, and name of the individual you spoke to should also be noted. Such written documentation can protect your interests if your claim is delayed or mishandled. It will be essential if you need to move forward with a bad-faith insurance claim later on.
This post was written by Kelly-Ann Jenkins of Jenkins Law P.L. Kelly-Ann is a roof damage insurance lawyer. She focuses on insurance claims and property damage. The information on this site is not intended to and does not offer legal advice, legal recommendations, or legal representation on any matter. Hiring an attorney is an important decision, which should not be based on advertising. You need to consult an attorney for legal advice regarding your situation.
The information provided on this website does not, and is not intended to, constitute legal advice; all information, content, and materials available on this site are for general informational purposes only. Information on this website may not constitute the most up-to-date legal or other information. This website contains links to other third-party websites. Such links are only for the convenience of the reader, user, or browser; the ABA and its members do not recommend or endorse the contents of the third-party sites.