Some Communities Are Still Waiting for Irma Repairs
Too many communities across Florida are still waiting for their storm damage claims from 2017’s Hurricane Irma in 2017 to be settled and paid. It is a constant, exhausting game of adjusters giving lowball estimates, and property managers being stuck in an awful dilemma: on the one hand, they are getting desperate and think less payment now is better than the right payment who knows when; on the other hand, they know they are being taken advantage of, and that the amount being proposed is not nearly enough to cover the losses they have suffered.
As a law firm that has handled many commercial property claims, we do not like to see anyone fall prey to insurance companies’ stall tactics. We know how they operate, and we know how to beat them at their own game.
Common Types of Coverage in Commercial Property Policies
As tempting as it may be to jump at the first settlement offer from your insurance company so you can get back to business as usual, keep in mind that this settlement is a business transaction—a complicated one, at that. Your policy is a complex document, and it is written in a way that leaves many policy holders unsure of their coverage. Make no mistake, accepting the first offer means you will almost certainly be leaving money on the table.
A property claims law firm like The Law Offices of Wolf & Pravato can review your policy and tell you in plain English exactly what kinds of protection is included in your coverage. Typically, coverage for a commercial property policy includes the following:
- Property damage
- Business interruption
- Extra expense
- Contingent business interruption
- Payroll coverage
- Loss of rents (for rental properties)
- Extended period of indemnity
- Civil authority
- Utility services – time element
- Loss of ingress or egress
We Handle the Entire Claims Process
Our legal team will waste no time getting your claim back in action. When you hire The Law Offices of Wolf & Pravato to handle your commercial property claim, you can count on us to move it through its entire life cycle. We will take care of:
- Disputes regarding your coverage
- Settlement negotiations
- Presenting your claim
- Appealing your claims
- Bad-faith insurance claims
Our lawyers will keep you up-to-date on your claim status every step of the way and be readily available to answer any questions or concerns you may have. Our purpose is to relieve you of this matter entirely, and that includes worrying about it.
How We Will Help You Settle Your Claim
One of the first things we will do is to bring in members of our full-service consulting group, a team of general contractors and engineers, to inspect your property, report all the damages, calculate the costs for repair or replacement. When all is said and done, we will have a comprehensive list of damages to the physical property, infrastructure, stock or other contents, and any other expenses associated with this destructive event.
We let our contractors do what they do best so that our legal team can focus on what they do best—settling insurance claims. We will review your insurance policy and its conditions, then merge this knowledge with the consulting team’s assessment to arrive at a claim amount that will realistically replace your property to its former form and function.
Letters of Protection Mean You Can Start Your Repairs Now and Pay Later
The team at the Law Offices of Wolf & Pravato understands your business can no longer wait to repair the damages to your commercial property. The full-service consulting firm that helps us assess your losses will also handle the work that needs to be done.
The repair work can begin immediately, with no up-front payment from you. Our lawyers make this possible by issuing a Letter of Protection to the general contractor, committing to pay them for their work out of the settlement you receive from the insurance company. As such, they are paid at the end of your case, and we cap their fees at seven to 10 percent of your property loss value.
And because we will handle the legal end on a contingency-fee basis, you also pay our lawyers nothing unless and until we actually settle your case. In essence, you have no out-of-pocket expenses you have to pay before the repair work or legal work commences.
We Understand Your Situation and are Committed to Fixing It
As a commercial property owner or manager, you have paid your insurance premiums with the logical presumption that should you ever sustain property damage, your insurer would hold up their end of the contract and give you the service and compensation you need and deserve to repair or replace your losses.
We also understand that the longer your property losses go unresolved, the greater the potential damage to your business. Our legal team will examine your claim and your policy, establish your rights, and devise a strategy to get you fair, prompt compensation.
Call the Law Offices of Wolf & Pravato today at (954) 633-8270 for a free evaluation of your insurance policy, as well as a property inspection by a member of our consulting team.