What should I expect involving a fire insurance claim?
Asked by
choreplay (
6297
)
September 29th, 2012
My office was in a multi-tenant office building which was partially destroyed by a fire. My unit was only subjected to smoke and water damage but the whole building had to be vacated while being repaired. I might have to stay out of the building for six months.
I have full coverage and have been informed by the adjuster I am insured for contents, moving cost and business loss.
Anyone that has been through an experience like this, what did you learn that you wish in knew going in? Is there any coverage that the insurance company typically “forgets” to tell you, you have?
Thanks for any help.
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5 Answers
Is business loss the same as business interruption?
some policies also cover lost income, so check into that also.
Well for one, photograph everything that has to be moved, BEFORE you move it. Photograph each piece from all angles, top, bottom, and sides, and note what each one is. Do this shortly before the move, and if you can have the photographs dated with the time and date by the developer, that would help. If you have to purchase anything because of the forced relocation, save those receipts, as well as any receipts of stuff you have bought for your business. This stuff should all be insured with a full replacement policy by them, but the devil is in the details as they say. If your stuff is lost or ruined in the move, the insurance company will still fight you for every dime you say you are entitled to in damages. That’s why you need current visual proof of the condition of your stuff before you move, and every receipt you can get your hands on.
I say this because I have been through it in a huge move with massive damages. Even if the mover isn’t a scammer, you can bet your insurance company will try every sort of underhanded trick in the book to keep from paying, including accusing YOU of damaging the stuff yourself just to get their money!
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Ooops, I didn’t read the question right. The photographs should be taken BEFORE the fire, when you take out the insurance policy. And if you have them, put sales receipts with your photos.
As for afterward, hire an independent insurance adjustor. The one from your insurance company works for the insurance company! They have no reason to rule in your favor if they can possibly help it. It’s a racket. Really.
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