One of the most important types of protection any business owner in Jacksonville can have is a comprehensive policy to cover their company. With the risk of property damage looming overhead, the right coverage can make it easier for them to sleep at night. As important as it is to have an active policy, it is equally important for business owners to be aware of the common issues they may encounter when they submit claims.
Business owners who know the reasons that can potentially prevent their policies from paying out can make adjustments to their policies to ensure they have the right level of coverage from the start.
According to BusinessInsurance.com, when there are communication issues between insurers and their commercial policyholders, disputes can arise. Policyholders should read their entire policies and ask their insurers for clarity if there are details they do not understand to keep confusion and breakdowns in communication to a minimum.
Not making improvements after a loss
Property owners are obligated to make improvements to their buildings following loss-causing events to minimize the risks of future losses, states AdjustersInternational.com. When they do not, and they submit claims at a future date for another loss, their insurers may deny their claims because they did not do anything or enough to prevent similar incidents from occurring again.
Not having enough coverage
Many business owners have their claims denied because they did not read the exclusions in their policies. Insurers include everything that is not covered in the exclusions section. Property owners should carefully read through their policies to ensure they have coverage that is tailored to their business’ needs.
Insurers can be very picky about which claims they approve. It is up to the policyholders to learn how to prevent their claims from being denied. By checking their policies often and asking for explanations and assistance with their coverage, they can avoid issues with the claims process.