Property Insurance Claims
Property Insurance Claims:
Negotiating Unfamiliar Terrain
Following disaster damage just having insurance coverage in place does not guarantee that the property insurance and business interruption claims will be fully reimbursed. The final settlement can be affected by the policyholder's actions from the moment the damage occurs. The policyholder needs to be prepared, organized and proactive. Without prudent action, the claims process can be more unnerving than the disaster itself. Knowing and understanding the key steps will save time, trouble and money.
"Once the preliminaries are over, it is imperative that you assume the responsibility of measuring your own loss, using experts and consultants who work for you."
Read Issue OnlineDownload PDF Issue
Key Points and Page Numbers
- First Steps – 1
- Obtain Expert Opinions – 2
- Concentrate on Maintaining Operations – 3
- Valuing Your Loss Properly – 3
- Business Interruption – 4
- Mitigate Your Business Interruption Loss – 4
- Post-Loss Checklist – 5
- Evaluate Your Settlement – 6
- Sample Business Personal Property Inventory – 6
- Sample Building Estimate – 7
- An Excerpt from a 600-Page Business Income Claim – 7