Commercial property insurance protects a business in the event of catastrophic damage. Its purpose is to ensure that any such catastrophe does not affect the business’s financial stability and will not reduce or destroy the value of the company’s property. Your insurance company is obligated to restore your business to the condition it was in before the damage occurred. Anything less is unacceptable. If your insurance company is not honoring a claim you made, you need to contact a Sugar Land real estate law firm that is ready to fight for your right to just compensation in a court of law.
A Sugar Land small business attorney can protect you if you have damage stemming from any of the situations listed below, which should be covered by your commercial property insurance.
- Water or plumbing mishaps
- Theft or vandalism
- Roof failure
Your insurance company may attempt to evade their responsibility for any of these reasons.
- Replacing the property would cost more than it was worth originally.
- The value of the assets that were destroyed was overestimated.
- The reported amount of business losses exceeds the policy’s coverage limits.
- Repair costs are too high.
Pursuing a suit against an insurance company can take years. Lambert and Jakob will doggedly follow through on your claim. Insurance companies have attorneys on retainer so that they can get out of honoring valid claims by their insured clients. Some of their tactics include the following.
- Stalling the proceedings
- Denying the claim for invalid reasons
- Making an inadequate offer
- Claiming that the damage is not covered by the policy
- Having an insurance adjuster undervalue the damage
When you purchased your commercial property damage insurance, you expected to be covered if you suffered a disaster that could ruin your business. An experienced property insurance attorney knows how to get the compensation you deserve if your insurance company is fighting your claim. It pays to have an advocate when an insurance company is acting in bad faith. You need to have representation that is willing to go to court if necessary.
Lambert and Jakob is a full-service law firm. We specialize in all types of legal matters, including Katy estate planning, litigation, landlord tenant disputes, consumer protection, foreclosure, employee disputes, debt collection, appeals and much more. If you are having a problem collecting on your commercial property insurance claim, or if you need any other type of legal assistance, contact us at 713-640-5700 to discuss your problem.