No one will ever know the details of your business more than you do. After your business has undergone a major loss you need to be on your feet. At this time, you should be focusing on keeping your business functioning, instead of having to deal with your insurance company and trying to learn all the scoops there are about insurances. The most efficient way in grounding your commercial claim, is by having a very strong foundation of documentation and evidence. This is where our public adjusters take a step in to take the lead.
What Do Commercial Insurances Cover?
Commercial insurances cover damages caused by disasters such as, earthquakes, storms, fires, and other disasters. These damages include revenue lost due to the business having to shut down, or rebuild. For example, a business makes a revenue of about 1 million throughout a 6-month period. This business is out-of-operation due to a fire that destroyed the entire business; requiring the business to rebuild. That company can be entitled to the 1 million of future revenue that will be lost during their time not being in business if the rebuilding process takes 6 months. The amount of compensation is dependent on the revenue in accordance to the time frame.
What Losses You Can Suffer?
A business can suffer a great amount of loss. It can range from your current expertly trained employees, to a year’s revenue. Here are some losses a business may endure:
- Loss of production
- Loss of property
- Loss of future revenue
- Loss of employees
- Loss of customers
- An earthquake of a 6.8 magnitude took place in Seattle, Washington in 2001. This disaster gravely damaged a Starbucks corporate building. A year before this earthquake, the Starbucks building was seismically retrofitted. The owners of the building hired a public adjuster to address the insurances position knowing that the building had already endured a 6.8 magnitude earthquake and was an old building from the year 1910. The public adjuster formed a group of engineers that made an extensive analysis proving that the 6.8 earthquake had caused the cracks and damages to the building. In the end, the owners of the building were able to make reparations according to how they felt would be the best protection for their future assets.
- L’Auberge Chez François is a French cuisine restaurant located in the metro Washington, D. C area. They suffered an electrical short which ignited their two-alarm fire. There was water and smoke that also damaged the structure. They hired public adjusters to be able to help them in bringing their property back to its original condition. They wanted to maintain their employees, so they had to convince the insurance companies to pay their employees during the recovery period. They won and had the insurance company pay an agreed-upon sum every week to each employee until it reopened. The outcome was that after 6 months, the company reopened as if a fire never had occurred.
Having a public adjuster with you throughout your claim gives you a much higher chance of receiving all the compensation for the damages derived from your property and even compensation you think you couldn’t get. Don’t ask yourself anymore: “Should I hire a public adjuster?” If you want to avoid dealing with insurance companies, get everything that is owed to you and possibly more, and re-establish your business, then the answer is yes! Get in touch with us.
How we Help Your Business
With so many years of experience and combined knowledge, we have assisted so many business owners in recovering from extensive interruptions and even little interruptions done to their property by disasters such as, floods, hurricanes, tornadoes, and other disasters. If you are one of these businesses who have suffered from a disaster, we will help you. Taking on these claims by yourself can be very difficult if you do not fully comprehend everything associated with your insurance company and claim.
Our main goal is not to just acquire the most of out your claim, but to also help you through this stressful recovery process. We will be your guide, holding your hand every step along the way.