A Philadelphia thrift store experienced the unimaginable when a neighboring four-story building under demolition fell onto it in June 2013. The weight of the rubble caused the thrift store to collapse.
Building collapse damage generally refers to losses that occur when a building collapses because of:
- Pest-related damage
- Undetected decay
- Excessive weight inside the building
- Excessive weight on the roof because of rain, snow or debris
- Vibrations from nearby construction or demolition blasts
Collapse Coverage and Claims
Many insurance providers offer building collapse coverage that you can add to your commercial policy. In general, commercial policies state they exclude collapses, but they may add a degree of protection in an “additional coverage” section.
Some insurance carriers have a narrow definition of a collapse. They may state that a building hasn’t technically collapsed if part of it remains standing, even if it shows signs of leaning, settling, cracking, sagging, bending or bulging.
When an insurance adjuster denies a collapse-related claim, a good public adjuster may be able to find language in your commercial policy that protects your assets.
Benefits of a Public Adjuster
A public insurance adjuster is a professional who is familiar with the insurance industry. At Commercial Claim Pro, we serve your interests so you receive the insurance settlement that you deserve. One of our public adjusters can even serve as an advisor before the claims process starts.
When you work with a public adjuster, you’ll experience benefits such as:
- Inspections to determine the safety of the building and find other areas of weakness.
- Safely securing exposed property.
- Filing and submitting a claim on your behalf.
- Documenting and valuating your losses for the insurance company.
- Calculating the cost of the business interruption and filing the respective claim.
- Negotiating the claim amount with your insurance provider.
- Obtaining estimates and hiring contractors that aid with the recovery process.
If you experience a building collapse, use the incident as an opportunity to improve your property and operations. Commercial Claim Pro will help maximize your payout and ensure the safety of the reconstruction. Stop feeling overwhelmed about your claim by calling us today.