Navigating Insurance Claim Duties and Responsibilities

A Guide for Entrepreneurs and Business Owners

We know how important it is to have the right insurance policy for your property to keep it safe from damages.

Your insurance policy has certain rules and timelines you need to adhere to. There are rules for both you and the insurance company within your policy.

Doing Your Part: Reporting and Cooperating on Time?

When something gets damaged, it's important to let your insurance company know right away.?

If you wait too long, it can make things more complicated. The insurance company might even blame something else for the damage if you wait too long.?

Even though "promptly" doesn't have an exact timeline attached to it, you should still try to act quickly. The longer you wait, the easier it can be for the insurance company to deny your claim. So, as soon as you notice any damage, contact your insurance company.

Understanding What Your Policy Requires?

After reporting the damage, your insurance policy and company will tell you what you need to do next.?

The part of the policy called "your duties after loss" or "what you must do after loss" includes the information you'll need.?

Different insurance companies may ask for different things. Sometimes, the questions asked by the insurance company during their investigation can make you feel upset. It's important to remember to cooperate with them.?

If you don't let them check your property, it can make them suspicious and they might deny your claim. During difficult times, like the Covid era, some people filed claims but didn't allow the insurance company to come and check their homes. In such cases, it's common for the insurance company to ask for proof of loss. They might want you to get an expert's opinion or provide other information to the best of your ability.

Time Limits and Talking to Your Insurance Company?

After you've done your part and given the necessary documents, the insurance company usually has a set time to decide on your claim. This time is usually five business days.?

During this time, they will either agree to pay or tell you why they won't. To make sure your interests are protected, it's a good idea to keep in touch with your claims adjuster. You can start the conversation and keep a record of it through email. This way, you have proof of your communication with the insurance company.?

Remember, the insurance company is allowed to take more time, but they have to tell you in advance and in writing.?

Getting Help from a Lawyer?

Sometimes, even if you try your best, the insurance company might not do what they should. In situations like this, it's helpful to get a lawyer who can help you.?

Lawyers are able to fight the insurance company’s decision on your claim, helping you get the money you need for repairs.

Insurance companies are known to delay, deny, and use tricks to make more money.

As policyholders, it's important to know our rights and responsibilities, learn about the rules, and talk to a lawyer when needed.?

By understanding insurance duties and responsibilities, we can protect ourselves and make sure we are treated fairly when unexpected things happen.

The attorneys at Flores and Pelaez-Prada, PLLC specialize in property damage claims. Representing business owners throughout Texas and Oklahoma, our lawyers have a proven track record for getting clients the money they need to repair their property.

If you are dealing with a denied or underpaid claim, reach out to our team now: 855-786-7674.