5 Things To Expect After Filing A Commercial Hail Claim

Texas has the highest incidence of hailstorms per year than any other state. Successfully filing a commercial property claim and regaining financial losses from hail damage can be very difficult, time-consuming, and disruptive given the many coverage issues that arise during the claims process. Property managers and building owners need a clear understanding of how commercial insurance policies work to make good financial decisions and protect assets. Below are five things to expect after filing your commercial hail insurance claim.

1. Accepted or Rejected Claim: Insurance companies must acknowledge a claim within 15 days of receiving it. You may be asked for more information, and then the company must either accept or reject your claim within 15 business days of receiving the information it needs from you. (Expert Tip: The deadlines may be longer after large disasters.)
2. Initial Inspection: After you file a claim, the insurance company will inspect your property and provide an estimate of the costs to make repairs. (Expert Tip: Adjusters typically visit the most severely damaged properties first, so smaller damage claims may wait longer for inspection than other customers.)
3. Advance Payments: If you are unable to occupy the structure safely before repairs are made, some insurance policies offer advance payments to cover transitional expenses. (Expert Tip: Customers are advised to save receipts for all business costs and expenses related to repairs and damages.)
4. Adjuster Damage Estimates: An insurance adjuster will survey your property to provide an estimate and value of your damages. (Expert Tip: Consider partnering with an adjuster and have them be present during the inspection.)
5. Receive Payment Offer: Once the extent of your damages has been established, your insurance company will offer an initial payment for the actual cash value (ACV) of your damaged structure. (Expert Tip: Some policies include replacement cost provisions and other endorsements once repairs are completed. Make sure you fully understand your policy coverage and benefits.)

Do you know what your commercial claim is worth? Stop wasting billable work hours on insurance headaches and always be ready to move forward with a proactive plan to speed up your recovery from catastrophic weather damage. 

Catastrophic storm help is just a call away. Contact BlueKey Restoration if you are having problems with or questions about your commercial insurance claim. Call us today at (210) 465-3830.

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