Comments on: Business Insurance Claims

By: Doug

Doug — Wed, 08 Feb 2012 00:47:36 +0000

I had roof damage last fall, and our adjuster came out and presented us with a check after doing an estimate, less 15% holdback for depreciation. I got several estimates and wound up getting the repairs completed for less than the initial payment. They initially tried to deny me the depreciation amount because of a time expiration, but I later got them to agree in writing to pay it because it was hail damage and contractors were very backed up due to the volume of houses needing repairs from the same storm. They said once I sent them the invoice from the contractor showing the work was done, they would release the depreciation. However, once they saw the amount was less than they had paid, they changed their stance and are refusing to refund the depreciation amount. Is this legal? it is through Farmers Insurance.

By: nadia

nadia — Tue, 07 Feb 2012 16:07:16 +0000

i have secured a judgment in court for damage a drunk driver caused to my business property…originlly i didnt want to file a claim with my insurance and went ahead on my own and won ..but now i am unable to collect…can i shift the liabilty to my insurance company file a claim and lat then go after it..this happened in april 2010

By: Jason

Jason — Wed, 25 Jan 2012 00:23:34 +0000

Joe,
First of all, you know the details of your claim and what is going on. We don’t know anything about it at all. You will need to give us some back ground on what happened, the things that led up to where they currently are right now, and what your claim concerns. Is this a BAP, a General liability policy, an E&O policy. You see, if you don’t provide use with useful information, all we can provide you with is useless information in return. The decision it entirely on you. You ask us if you can throw away this damaged block. You ask if there is a standard for this inquiry. We have no idea what kind of inquiry your are talking about. Can you provide us why you believe you should ask if your communication should be through an attorney? You indicates this was overpaid by $3-4000 but we have no idea about anything about your claim. If you are attempting to confuse us, you are doing an excellent job. If you want us to understand you, we will need you to provide the best advice to us that you can. If you want us to provide as vague of an answer to you as your question to us, all you have to do is ask for that and we will try our best.

By: Joe

Joe — Tue, 24 Jan 2012 22:23:38 +0000

I have a situation with an insurance company that paid out a claim to me on my buisness where we had damaged an engine and needed to replace it. They asked for three different venders where the product could be replaced along with supporting documentation regarding engine. The claim started on 7-28-11, They sent out two different engineers to look at damage and to evaluate my competency for assembling engine. They paid the claim in november 2011. Now they are coming back asking for more information and a deposition regarding where i purchuased the engine / how i got its value and lots of other things that make it feel like they are going to sue me. They didnt even request back the damaged block and im tired of holding on to it. My questions are : Can i throw away this damaged block? Is it standard for this type of inquiry? Should my communications with the insurance company be through council? Can they legitamitly sue me over this claim even though it was already paid and their “over payment” was between 3000 and 4000 dollars on a 25,000 claim. Thanks for your help.

By: Jason

Jason — Wed, 11 Jan 2012 00:25:48 +0000

Paula,
Contact your agent and make a claim. There may be covered for this but that will depend on what caused the pipe to break. The claim will get that all started to determine if there is coverage.

By: Paula R

Paula R — Tue, 10 Jan 2012 17:28:32 +0000

There is a water pipe leaking out side of my business by the curb and gutter. The city I live in says I am responsible for anything from the main to my building. Does insurance usually cover this type of problem? The water leak is outside but there is a lot of cement torn up, a backhoe, boring machine, equipment and overtime.

What is the best way to get this submitted to the insurance company for some type of coverage? Your answer would be greatly appreciated.

By: Jason

Jason — Sat, 07 Jan 2012 04:39:52 +0000

Ericka,
No, this would not be considered double jeopardy because that only applies to criminal acts.

It is correct insurance doesn’t cover what they call a person’s “work product” because if a company didn’t do it correctly, they can do it again and do it correctly the next time it’s done. The insurance company doesn’t insure anybody’s “work product”.

You have done everything you can do. Can you sue him again? No, because the court has already settled this matter entirely. Their determination was that you were correct and because you were correct, they awarded you $1000.00. That is called a judgment the end of that entire situation and dispute.

By: Ericka

Ericka — Fri, 06 Jan 2012 18:38:04 +0000

I hired a company (franchise) to refinish my brand new hardwood floors (I used a product on them that left a dull apperance and I wanted them back to “normal”), and in the end the owner of the franchise RUNIED my floors! I took the owner to small claims court, but was only awarded $1,000.00 (the amount I paid him). I tried going through my insurance company, but they said because I hired a company to fix my floors I need to go through his business insurance. I just tried filing a claim through his insurance company, but they said they wont help me because it’s conisdered negligence for his “quality of work.” I have no idea what I need or can do from here. I feel like I’ve exhausted all avenues. It’s going to cost over $15,000.00 to replace my floors that this franchise owner ruined. Do you have any advice? Can I hire a lawyer and take him to a bigger court or that considered double jeporady? Any advice would be helpful.

By: Jason

Jason — Fri, 16 Dec 2011 01:12:23 +0000

Cheryl,
We would like to address you concerns. However in order to do so, we need to understand what you have posted. Please re-organize your post so it makes sense and we will address your questions asap.

By: Cheryl

Cheryl — Thu, 15 Dec 2011 20:59:56 +0000

I am helping out a friend whom has started a business. The company vehicles was robbed of tools and parts totaling around 13,000.00. When they went to file the claim the actual insurnace company advised they was under insured and penalized them 8,000.00 dollars. Can you advise me why this was done, why the insurance agent advised him to make claim the claim for the employees tools which put him over the amount by 4,000.00 and why she did not advise him as he added to his company that he needed to change insurance amounts? This may cause him to go out of business and he looked to a insurance agent to make sure his company was taken care of. Thank you for any help regarding this.