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When a storm or fire closed your doors, you assumed that your commercial insurance company would be as motivated as you were to get your business up and running again. But all you have gotten is the runaround. The longer you stay closed, the more this disaster is costing you. You need a knowledgeable advocate to assess the damage, determine the value of your claim, and get the insurance adjuster moving on your claim. You need Suli Law.
Attorney Laura Sulisufay used to work for insurance companies. Now, she works for small business owners like you to get insurers to honor their policies and to act quickly after a hurricane, flood, or fire has put them temporarily out of business. If your insurer is delaying or denying your claim, do not hesitate to contact Suli Law in Tampa.
We Help Florida Businesses Claim What They Deserve After a Natural Disaster
When you bought your commercial insurance policy, you were likely given many options for levels of coverage. At a minimum, your policy should cover property damage following a storm or other natural disaster and should have a business interruption rider as well. Attorney Laura Sulisufay will review your policy to determine the scope of your coverage.
Most commercial property insurance policies cover the following.
Buildings
Commercial property insurance typically covers damage to the physical structure of your business premises, including the building's foundation, walls, roof, and attached structures. We will help you assess the extent of your damage to get a fair payout on your policy.
Business Personal Property
This includes coverage to repair or replace your business's tangible assets, such as office furniture, machinery, equipment, inventory, and tools, whether they are owned or leased.
Loss of Business Income
Business interruption coverage can compensate you for lost income and ongoing expenses if your business is forced to shut down temporarily due to a covered event, such as a storm or fire. This coverage might be included in your policy, or it might be a separate rider.
Extra Expenses
This coverage helps pay for additional costs incurred to keep your business running after a covered loss. For example, renting temporary office space or equipment during repairs.
Valuable Papers and Records
This includes protection for important documents, records, and data that may be damaged or lost due to a covered event. This should also include coverage for lost income resulting from the destruction of accounts receivable records due to a covered event.
Ordinance or Law
Rebuilding a damaged property often means bringing your building up to current codes. Your property damage coverage should also include reimbursement for costs associated with rebuilding or making necessary upgrades to comply with local building codes or ordinances after a covered loss.
Disasters That Could Trigger a Commercial Property Claim in Tampa
Any number of events in Florida could damage your commercial property and put you out of business. Typically, we think of our biggest threat being hurricanes, especially as they become stronger and more frequent. Your commercial policy should cover the following events.
Natural Disasters
Your policy should include protection against damage resulting from natural events such as hurricanes, tornadoes, earthquakes, and floods, as well as damage caused by high winds and hailstorms.
Fire and Explosions
You should also have coverage for damage caused by fires, whether due to electrical faults, arson, accidents, or wildfires. Your policy should also include compensation for damage caused by smoke, even if there is no fire. Coverage for damage caused by explosions, whether from gas leaks or other causes, should also be part of this coverage.
Theft and Vandalism
Compensation for damage or loss caused by theft, burglary, vandalism, or other criminal acts is included in most policies, whether the incident is a targeted act against your business or occurred during civil unrest, such as a protest or riot.
Water Damage
Internal issues, such as burst pipes, plumbing issues, or other water-related incidents, including damage from sprinkler systems, should be covered under your policy.
Accidental Damage
Your policy should also include coverage for sudden and accidental damage to your property, such as a vehicle crashing into your building or another unexpected incident.
Business Owners Should Regularly Review Their Florida Policies
It's important for businesses to carefully review their commercial property insurance policies, including the specific covered perils and policy limits. Additionally, businesses should consider any optional endorsements or riders that may provide additional coverage tailored to their needs. Adequate commercial property damage insurance can be essential for business continuity and financial protection in the event of unforeseen disasters or property damage incidents. Suli Law would be happy to review your coverage before disaster strikes.
Contact Suli Law to Begin Rebuilding Your Business
As a Florida business owner, you might be feeling hopeless right now, but after a free consultation with Suli Law, you will see that hope is not lost. We are here for you, and no one will fight harder to help you get back what the storm or fire has taken away from you than us. Fill out our contact form or call us anytime, day or night.