3 Costly Large Loss Claim Pitfalls To Avoid

If the recent hail storms have added extra hours to your already busy schedule, then you are not alone. Many building owners and property managers know they can expect at least one catastrophic weather event every season. 

Not only are businesses and properties negatively impacted by storm damages, but the road to restoration and repairs can often feel like an eternity. Understanding the large loss claims process can be extremely complex, even for the savviest business or property professional. It is not uncommon for clients to spend countless hours, days, and even cumulative weeks just coordinating their large loss insurance claim with their insurance agent, adjusters, and contractors.

Additionally, many clients are surprised when the insurance company pushes back on their large loss claim - unfairly denying, delaying, or underpaying their insurance claim. These practices are especially painful because these pitfalls often occur when the insured needs help the most. 

If you're lucky enough to have never experienced any of these insurance obstacles, it may only be a matter of time. Keep reading to learn more about "bad faith" settlement practices you could find yourself up against after filing a large loss insurance claim.

• Denied Claims help increase the insurance company's bottom line by avoiding payment on valid claims. Reasons for a denied claim can include "pre-existing" damages, obscure contract clauses with confusing legal jargon, or an expired filing deadline.
• Delayed Payments can be the result of an unnecessarily drawn-out or excessive paperwork process. The insurance carrier may be acting in "bad faith" in hopes the insured will ultimately accept any settlement offer - or give up on payment altogether.
• Underpaid Settlements inadequately cover the true cost of your damages and repairs or replacements. Reasons for this may include incorrect or hastily conducted damage appraisals, or hidden or inaccurate damage assessments that could become a problem in the future. 

Unfortunately, many insurance companies may try to get away with paying out as little money on large loss insurance claims as possible. When seemingly straightforward insurance claims are denied, delayed, or underpaid, it helps to prioritize repairs while working toward a resolution.

If you feel you are being treated unfairly on your large loss insurance claim, contact BlueKey Restoration to learn how we can help get what you deserve. www.BlueKeycrc.com