Insurance claims can be a tricky business and one that shouldn’t be handled without the assistance of an expert in the field. The complex world of insurance claims means you need an expert that knows how to navigate the tactics the insurance company will use in a trial. These can include trying to reach a settlement to avoid paying full coverage, indemnification strategies, and evaluation practices used by companies in an attempt to underpay. There are many types of insurance claims, three of which are outlined below.
Bad Faith Insurance Claims in Sherman Oaks, CA
When an insurance claim involves the malicious and intentional refusal to meet a contractual obligation in nature, it’s called a bad faith claim. Bad faith claims happen in cases where deception or fraud is the goal.
These kinds of claims can include:
- A delay in payment that is unreasonable or includes stall tactics.
- Claim denials on unreasonable grounds
- Unreasonable policy interpretation
- Withholding payment of a claim’s full value
- Failure to properly investigate a claim promptly.
Adjusters in these circumstances often find themselves restricted by guidelines governing claim processing specifically designed to reduce the insurance company’s costs and boost profit margins. The only way to respond to these situations effectively is with a bad faith claim.
Commercial Property Insurance Claims in Sherman Oaks, CA
Business owners who have experienced a catastrophic loss typically do whatever they can to reduce the damage involved and get their company back in operation. The process involved in settling a claim for commercial properties can be complicated, and it should be approached with proper respect by the business owner. Claim adjusters are always working for the benefit of the insurance company, not the insured, so a thorough investigation of the damage and coverage is essential.
Commercial claims can include:
- Damage to property, including machines, raw materials, fixtures, and inventory
- Interruption of the business’s regular operating hours
- Additional expenses, including moving locations, restoration of property and equipment, etc
- Coverage of ordinary payroll
- Rent loss for the property owner.
- Conditions where civil authority prevents operation or access to the business
When a commercial insurance claim is necessary, every aspect of the insurance policy must be critiqued so that proper coverage can be obtained.
Condominium Property Insurance Claims in Sherman Oaks, CA
When community association or condominium properties are damaged, it’s the responsibility of the board of directors and association manager to file proper insurance claims. This responsibility can be a daunting task for those who don’t have experience with these kinds of claims. The process is eased when the job is broken down into a series of steps. Those steps can include:
- Determining the policies of insurance that apply and who the insured are.
- Confirmation of coverage
- Recovery and settlement of losses
If you’re facing an insurance claim in Sherman Oaks, CA, then it’s time to make a call to the Gary Berkovich Law Office. Gary Berkovich has been helping clients process claims to ensure they get proper compensation and that everything their policy covers is paid. Don’t let insurance claim adjusters convince you to receive less than every bit of coverage you deserve, call now!