Standard property insurance provides coverage for returning a building to the condition it was in prior to a covered loss. What is not covered is the increased cost due to the enforcement of ordinances or laws regulating construction and repair of damaged buildings. Ordinance or law coverage was developed to fill this gap. (more…)
Even if your business has been fortunate enough to avoid a loss, it may happen that disaster strikes near your business. Although this event doesn’t directly affect your ability to conduct business, action by a civil authority – like the police or fire department – may still prohibit access, resulting in a loss of business income and extra expense. Civil authority coverage comes into play in these situations, providing protection when there is damage to property other than your insured premises due to a covered cause of loss. (more…)
Did you know that insurance claims are generally resolved quicker and with lower out-of-pocket costs when they are reported promptly? Watch this video to learn more: (more…)
The timing of when you choose to report an incident to your insurance carrier has a direct effect on the bottom line. This case study demonstrates how prompt claims reporting was key to recouping this property loss quickly and efficiently. (more…)
The easiest way to control your claim cost is with prompt reporting. Studies show that claims cost more when reporting is delayed. The sooner a claim is reported, the sooner it can begin to be managed and brought to resolution.
Key types of claims that should be reported as soon as possible: (more…)
No one wants to file an insurance claim, but if an accident does happen, prompt reporting is crucial to recouping your losses quickly and efficiently.
- Prompt reporting provides an opportunity for claims professionals to offer suggestions that may help reduce your loss.
- Immediate investigation into a loss greatly assists your claims professional in seeking reimbursement of your deductible when others are at fault.
- In cases were subrogation possibilities exist, prompt reporting provides ample opportunity to examine evidence before it is destroyed.
- Prompt notification means your repairs will be completed sooner.
- In times of widespread damage it is always (more…)