Handling Denied Insurance Claims For Commercial Property
Commercial property insurance is intended to cover any damage to the buildings or properties owned by your business. In Oklahoma and surrounding states, such insurance coverage is critical. This area of the country is particularly susceptible to tornadoes, hail and other storm-related damage. In addition, fire and smoke damage is an ever-present threat for nearly every property owner.
If your property was damaged yet your insurance company denied the claim, turn to Mansell & Engel. With more than 100 years of combined experience, our attorneys have the knowledge and resources to go head-to-head with the nation’s most imposing insurance companies. In fact, our firm obtained the largest jury verdict in Oklahoma history for a case involving the bad faith of an insurance company.
Combating Alleged “Deterioration” And Other Loopholes
The majority of all commercial property claims involve roof damage. In these situations, the insurance company’s most common defense is to blame the damage on deterioration that already existed in the roof. It often alleges that due to the age of the shingles or other materials, the roof was already breaking down, and the storm only revealed the weakness that was already there. The insurance carrier uses this “deterioration” loophole in an attempt to avoid paying out policy benefits.
Nevertheless, our firm has successfully argued that whether insurance companies choose to insure a new roof or an old one, they still owe the full amount necessary to restore whatever storm damage occurred. If it was insuring a 20-year-old roof, the insurance company cannot use the fact that the roof was two decades old as an excuse to deny the claim.
Advocating For Clients In Business Interruption Claims
Many commercial property insurance policies include business interruption coverage. This means that if a storm, water leak, fire or other covered incident interferes with your ability to conduct business, you can seek benefits to compensate for your:
- Lost revenue
- Continued operating expenses
- Costs associated with temporarily relocating operations
- Other expenses incurred as a result of the interruption
Commercial Property Insurance FAQs
Commercial property insurance is one of the best ways to protect businesses from serious legal claims. At Mansell & Engel, we understand that you likely have a lot of questions about what your insurance does and what you can do if your carrier refuses to defend you against a claim. Here are the answers to some frequently asked questions about commercial property insurance:
Can I appeal a commercial property insurance denial?
If a party files a claim against your business, your insurance should defend you. This may mean negotiating with the other party and discussing how to settle the claim. If your insurance denies your claim, you may need to appeal the denial. Our attorney can work with you as you negotiate with your insurance company and appeal a denial.
How long do I have to appeal a denial?
It is important to act fast after an insurance claim is denied. If you wait too long, you could miss your window to appeal the denial. You may also need convincing evidence as you negotiate the appeal. Waiting too long to appeal a denial could lead to serious litigation issues. An attorney can help you meet your appeal deadline.
What are common reasons for the denial of commercial property insurance claims?
There are several legal reasons why an insurance provider would deny a commercial property insurance claim, including:
- Insufficient documentation
- Insurance does not cover a claim
It is important to understand why an insurance claim was denied if you are planning to appeal.
What documentation is necessary for appealing a denial?
An appeal can rely heavily on documentation. You may need to keep a detailed record of bills, damages, medical costs, property damage, etc. An attorney can help you collect the necessary documents for your appeal.
What preventative measures can I take to avoid future denials?
An insurance claim denial can lead to a lot of legal and financial difficulties. You can avoid future denials by talking with your policyholder and reviewing your coverage. You can also talk to your attorney to learn more about how to avoid future denials.
Consult The Insurance Lawyers Of Mansell & Engel
We offer a free case evaluation to both prospective clients and other lawyers seeking co-counsel on their cases. Contact Mansell & Engel at 405-212-5921 or by emailing our Oklahoma City office. Because we charge contingency fees, we only get paid if we are successful.