Colsa Insurance Agency, Inc.
  • Home
  • Quotes
    • Auto Quotes >
      • Auto Insurance Quote
      • ATV Insurance Quote
      • Classic Car Insurance Quote
      • Roadside Assistance Quote
      • Motorcycle Quote
      • RV Insurance Quote
    • Property Quotes >
      • Home Insurance Quote
      • Earthquake Insurance Quote
      • Flood Insurance Quote
      • Landlords Insurance Quote
      • Renters Insurance Quote
    • Business Quotes >
      • Business Insurance Quote
      • Business Owners Package (BOP) Insurance Quote
      • Group Benefits Insurance Quote
      • Insurance Bond Quote
      • Workers Compensation Quote
    • Life & Financial Quotes >
      • Life Insurance Quote
      • Annuity Quotes
      • Disability Insurance Quote
    • Other Quotes >
      • Travel Insurance Quote
      • Boat Insurance Quote
      • Event Insurance Quote
      • Umbrella Insurance Quote
    • Referral Partners
    • MyInsurance
  • Service
    • Report a Claim
    • Make a Payment
    • Update Contact Info
    • Policy Changes
    • Proof of Insurance
    • Contact My Carrier
    • Free Consultation
  • Insurance
    • Vehicles >
      • Auto Insurance
      • ATV Insurance
      • Boat Insurance
      • Classic Car Insurance
      • Motorcycle Insurance
      • Roadside Assistance
      • RV Insurance
    • Property >
      • Home Insurance
      • Earthquake Insurance
      • Flood Insurance
      • Landlords Insurance
      • Renters Insurance
    • Business >
      • Business Insurance
      • Business Owners Package (BOP) Insurance
      • Group Benefits
      • Insurance Bonds
      • Workers Compensation
    • Life/Financial >
      • Life Insurance
      • Annuities
      • Disability Insurance
      • Financial Planning
      • Umbrella Insurance
    • Other >
      • Travel Insurance
      • Event Insurance
  • About
    • Our Pledge to You
    • Client Testimonials
    • Refer a Friend
    • Insurance Carriers
    • Privacy Policy
    • Blog
    • News
  • Contact
  • Home
  • Quotes
    • Auto Quotes >
      • Auto Insurance Quote
      • ATV Insurance Quote
      • Classic Car Insurance Quote
      • Roadside Assistance Quote
      • Motorcycle Quote
      • RV Insurance Quote
    • Property Quotes >
      • Home Insurance Quote
      • Earthquake Insurance Quote
      • Flood Insurance Quote
      • Landlords Insurance Quote
      • Renters Insurance Quote
    • Business Quotes >
      • Business Insurance Quote
      • Business Owners Package (BOP) Insurance Quote
      • Group Benefits Insurance Quote
      • Insurance Bond Quote
      • Workers Compensation Quote
    • Life & Financial Quotes >
      • Life Insurance Quote
      • Annuity Quotes
      • Disability Insurance Quote
    • Other Quotes >
      • Travel Insurance Quote
      • Boat Insurance Quote
      • Event Insurance Quote
      • Umbrella Insurance Quote
    • Referral Partners
    • MyInsurance
  • Service
    • Report a Claim
    • Make a Payment
    • Update Contact Info
    • Policy Changes
    • Proof of Insurance
    • Contact My Carrier
    • Free Consultation
  • Insurance
    • Vehicles >
      • Auto Insurance
      • ATV Insurance
      • Boat Insurance
      • Classic Car Insurance
      • Motorcycle Insurance
      • Roadside Assistance
      • RV Insurance
    • Property >
      • Home Insurance
      • Earthquake Insurance
      • Flood Insurance
      • Landlords Insurance
      • Renters Insurance
    • Business >
      • Business Insurance
      • Business Owners Package (BOP) Insurance
      • Group Benefits
      • Insurance Bonds
      • Workers Compensation
    • Life/Financial >
      • Life Insurance
      • Annuities
      • Disability Insurance
      • Financial Planning
      • Umbrella Insurance
    • Other >
      • Travel Insurance
      • Event Insurance
  • About
    • Our Pledge to You
    • Client Testimonials
    • Refer a Friend
    • Insurance Carriers
    • Privacy Policy
    • Blog
    • News
  • Contact

Colsa Insurance Agency, Inc. Blog

Filing Late and Other Ways to Have a Claim Rejected

5/6/2020

0 Comments

 
Picture

​One of the biggest mistakes you can make if you incur damage to your business premises is to wait too long before filing the claim with your insurer.

The owners of a hotel in Dallas learned this the hard way when a U.S. Circuit Court of Appeals held that the business had waited too long to file a claim with its insurer after suffering hail damage.

The court ruled that because the hotel had waited more than 19 months to file the claim, it was impossible for the insurer to ascertain exactly when the damage had occurred.

The hotel's property policy required that the insured make "prompt notice" of any claims.

But the insurer rejected the claim when it received it for a hailstorm that had happened more than a year and a half earlier, on the grounds that it could not determine what had caused the damage or when the damage occurred. This was crucial since the policy had expired 17 months earlier - two months after the storm had allegedly damaged the hotel.

Believe it or not, filing late is a common problem and it is one of many mistakes business owners make when filing claims. The following are surefire ways to risk having your claim denied or disputed by your insurance company:

Not contacting your insurer immediately
While most insurance policies state that you must notify the company promptly of a loss, what counts as "prompt" may be a little vague. However, you can wreck your claim by reporting a loss so late that it "prejudices" the insurance company.

For the most part, you should take steps to notify your insurer as soon as possible after you become aware of a loss.
 
Failing to document the damage
Take pictures and itemize everything that was damaged. Often, you will have to make repairs immediately to prevent additional damage, or move machinery to a new location. If so, be sure to photograph the original scene to document how it was before you started your clean-up effort. Also take photos of any repairs you make.
 
Disposing of damaged goods
If your business clean-up includes removal of items such as water-damaged merchandise, flooring or insulation, keep it all, even if it has to pile up in the parking lot. The damaged materials are all evidence of the impact of the disaster on your business.
 
Not appealing an insurer's low estimate
After the claims adjuster inspects the damage, the insurance company will give you a damage estimate. If you think it's too low, you can appeal. We can help if you feel the estimate is too low.

But some businesses will hire an outside adjuster to make a second estimate, and then the claim will go to mediation for a final resolution.
 
Not reading your policy
You should understand exactly what your policy covers. For the most part, commercial property policies will not cover flooding or earthquake damage. That kind of coverage will often require a separate policy or rider.
 
Not being prepared
If your business suffers damage, you'll be better off if you know what to do in advance. Some advance steps you can take are:
  • Reviewing your policy to make sure you have adequate coverage.
  • Knowing where your insurance policy is kept.
  • Keeping an extra copy of the policy off-premises or in a safety deposit box.
  • Having our telephone number and e-mail address in the contacts on your smartphone, so you can call us immediately if you suffer a claim.
 
A final word…
Filing a claim is usually not a difficult process, but you should be prepared in advance, like making sure you keep good records of all your assets, including receipts, payment schedules and more.
​
Finally, if you are unsure whether you should file a claim on any of your commercial policies, you can always give us a call to discuss the event and we can assist you.
0 Comments



Leave a Reply.

    Contact Us

    (281) 815-2003​
    11111 Katy Freeway
    Suite 910
    Houston, TX 77079​
    Click Here to Email Us

    Archives

    June 2022
    February 2022
    June 2021
    February 2021
    December 2020
    August 2020
    May 2020
    April 2020
    March 2020
    February 2020
    January 2020
    October 2019
    September 2019
    May 2019
    April 2019
    December 2018

    Categories

    All
    ACA
    Affordable Care Act
    Auto Insurance
    BOP
    Business Insurance
    Business Interruption
    Business Owners
    Business Policy
    Business Travel
    Car Insurance
    Claim Rejected
    Claims
    Claims Adjuster
    Claims-made
    Coastal Residents
    Collision Damage
    Commercial Auto
    Commercial Flood
    Commercial Insurance
    Commercial Policy
    Commercial Property
    Compliance
    Construction
    Contractors
    Coronavirus
    COVID 19
    COVID-19
    Cyber Attacks
    Cybercrime
    Cyber Risks
    Damage Estimate
    Directors And Officers Liability
    Drive Other Car Coverage
    Elevation Certificate
    Employee Benefits
    Employees
    Employer
    Employment Practices Liability
    Epinephrine
    Excess Umbrella
    Executive Order
    FAQs
    FEMA
    Filing A Claim
    Financial
    Flood
    Flood Damage
    Flood Insurance
    Flood Map
    Flood Mapping
    Flood Risk
    Flood Risk Zones
    Flood Safety
    Flood Smart
    General Liability
    Group Health
    Guidelines
    Health Insurance
    Health Plans
    Home
    Homeowners
    Hurricane
    Hurricane Preparation
    Insulin
    Insurance
    Insurance Certificates
    Labor Law
    Liability Protection
    Litigation
    Local
    Managing Risk
    Medications
    National Flood Insurance Program
    NFIP
    Non-owned And Hired Coverage
    Officers Insurance
    OSHA
    Outpatient Drugs
    Personal Accident Insurance
    Personal Effects Coverage
    Pharmacies
    Preparing
    Prescription Drugs
    President Trump
    Private Flood
    Private Flood Insurance
    Professional Liability
    Property Insurance
    Rental
    Rental Car
    Rental Car Insurance
    Rental Coverage
    Reporting A Loss
    Risk Management
    Safety
    Storm
    Subcontractors
    Telecommuting
    Vehicle Insurance
    Waivers
    Workers' Comp
    Work From Home
    Workplace Safety
    Work Safety

    RSS Feed

Navigation

Homepage
Insurance Quotes
Policy Service
Insurance Products
Contact Us
Agent Login

Connect With Us

Share This Page

Contact Us

Colsa Insurance Agency, Inc.​
11111 Katy Freeway
Suite 910
Houston, TX 77079
(877) 992-6572​
Click Here to Email Us

Location

Website by InsuranceSplash
Photos used under Creative Commons from wuestenigel, verchmarco, OregonDOT, Ivan Radic, wuestenigel, Tony Webster, drewgstephens, moodboardphotography, wuestenigel, Rainbow International Franchise, collections.otautaumuseum, Key West Wedding Photography, pburka, havens.michael34, wuestenigel