Conte Law Firm helps businesses through the insurance claims process. Commercial insurance is a huge part of ownership, making sure you’re covered if something bad happens. But at the same time, though, an insurance company’s overall goal is to save money–which sometimes means paying out as little as possible. If you think that your claim is being undervalued or is outright denied, contact us today for a free consultation.
Do You Need Our Lawyers?
Dealing with interruptions to your business is frustrating, and sometimes leaves you feeling helpless. Then, having to deal with your insurance companies can make the situation even harder–especially if they deny your claim or try to give you less than what you deserve. While you can file a claim yourself, having our lawyers can make sure you’re treated fairly and get what you’re owed. If your claim is denied or the payout is too low, here’s how our team can help:
- Reviewing your claim – We’ll take a close look at your insurance policy and your claim to figure out why it was denied or why you got a low offer. We’ll check for mistakes or issues that might have led to the decision.
- Challenging the denial – If your claim was denied, we’ll help you fight it. This could mean gathering more proof or contacting experts to show that your damage should be covered.
- Negotiation – Insurance companies often try to pay less than what you deserve. We’ll work with them to get you a fair amount, making sure you’re not settling for too little.
- Legal guidance – We’ll explain your rights and guide you on what to do next. If the insurance company still won’t give you a fair payout, we’ll help you understand your options. If nothing else works, we can take your case to court. While this is a last option, we’re ready to fight for you and make sure you get a fair result.
Having us on your side makes things much easier. But remember, the insurance company might have the final say. That’s why it’s important to know why they may undervalue your claim and what you can do to protect your business.
Why Would My Commercial Insurance Claim Be Denied or Undervalued?
No matter what your reasoning is for filing a claim with your commercial insurance, you’re going to have to go through a process where the insurance company looks at what happened and then decides to offer you a settlement–which is just a payout–or might even deny your claim (which means you won’t get anything.) This is a pretty involved process where the insurance company will investigate things, ask questions, and ask for proof and documentation. But the ultimate question is why they might deny or undervalue your claim. Usually, it’s because of things like:
- Lack of proof – If you didn’t provide enough evidence to support your claim–like photos, repair estimates, or receipts–the insurance company might deny it or offer less than you expected.
- Missing deadlines – Most likely, your policy probably has strict deadlines for reporting damage or filing claims. If you miss these deadlines, your claim could be denied automatically.
- Not having the right policy – Your policy might not cover certain types of damage. For example, if you have a standard policy, it might exclude flood damage, or if the damage is considered “wear and tear,” it may not be covered.
- Disputes over the root cause – The insurance company might argue that the damage wasn’t caused by something your policy covers. For example, they might claim a fire was due to negligence or that storm damage was due to poor maintenance.
- Insurance process – Insurance adjusters, which are usually trained to approach claims in a certain way, might estimate the cost of repairs or replacements much lower than the actual cost, leaving you with a smaller payout.
- Pre-existing conditions – Just like health insurance, your commercial insurance provider could try to argue that the damage was already there before the event you’re claiming for, which can lead to a denied or reduced claim.
- “Failure to mitigate” – If you didn’t take steps to prevent further damage after the incident (like covering a broken window), the insurance company might deny part or all of your claim.
- Claim errors – Even small mistakes on your claim form, such as incorrect dates or missing information, can lead to delays or denials.
It’s obviously frustrating to have your commercial insurance claim denied or–at the very least–undervalued. But remember, there’s things you can do to make sure that doesn’t happen.
How Can You Keep Your Claim From Being Denied or Undervalued?
Given all the potential reasons why your insurance company might deny or undervalue your claim, it can be pretty confusing to know where to turn. But like any insurance process, you can take steps to protect your claim:
- Report the damage right away – As soon as you notice damage or an incident, report it to your insurance company. Most policies have strict deadlines, and filing quickly shows that you’re taking the situation seriously.
- Document everything – Take photos and videos of the damage from different angles. Keep detailed records of repair estimates, receipts, and any communication with contractors. The more evidence you have, the tougher it will be for the insurance company to deny or devalue it.
- Know your policy – The better you understand what your policy covers–and what it doesn’t–the better chance you have at being treated fairly. If you’re unsure, ask your insurance agent or our lawyers to explain the details so you can avoid filing for something that isn’t covered.
- Be straightforward – Provide accurate information when filing your claim. Double-check dates, descriptions, and any other details to avoid mistakes that could delay or deny your payout.
- Be proactive – After the incident, take immediate action to prevent more damage. For example, if a storm damages your roof, cover it with a tarp to stop leaks. Insurance companies expect you to protect your property from further harm.
- Keep records of communications – Write down the date and time of every call, email, or meeting with your insurance company. Keep track of any letters or emails they send you to create a paper trail.
By following these steps, you can avoid common mistakes and give your claim the best chance of being approved and fairly valued. Unfortunately, though, there’s only so much you can do. These steps will give you a solid foundation, but it’s still up to your insurance company.
How Can I Challenge My Insurance Company’s Decision?
Being in a situation where your commercial insurance claim is denied or you’re lowballed is incredibly frustrating. On top of already dealing with damage, you now also have to deal with not getting what you’re rightfully owed–or not getting anything. But you don’t have to give up. Here’s what you can do to challenge their decision:
- Gather more evidence – You can always get additional evidence or proof if the insurance company you didn’t provide enough. Make sure to get additional photos, repair estimates, accident reports, or even professional opinions from experts.
- Write a formal appeal – Send a written appeal to the insurance company explaining why you believe their decision was wrong. Include all supporting evidence and reference specific sections of your policy.
- Negotiate directly – Sometimes, a conversation with the claims adjuster or a higher-up can lead to a better offer. Be prepared to present your evidence and explain why you deserve a higher payout.
Responding the right way after your claim is denied or undervalued can make a big difference. It starts with gathering the right information and evidence to strengthen your case. From there, reach out to our team for guidance and legal support to help you.
Contact Conte Law Firm For a Denied or Undervalued Commercial Insurance Claim in Providence
When your own insurance company in Providence doesn’t treat you fairly, it’s a difficult situation. While you pay for a policy, a claim decision is up to the insurance company’s process and discretion. When you feel like your claim is being undervalued or has been denied unfairly, Conte Law Firm can help you. Contact us today for a free consultation to talk about your options.
