Business Insurance Attorney Kansas City MO
Small business owners are particularly vulnerable to unexpected problems that interfere with daily operations. Has your business experienced a recent accident, fire, or problem that has affected your business? Did you lose all of your inventory? Was your equipment damaged? In a perfect world your insurance company would help you and cover those damages – but that is often not the case.
If you have a business loss and your insurance claim is denied by your insurance company, you need the help of a business insurance expert. Saxton Law Firm has the experience and knowledge that you need to protect your business. Contact Saxton Law for a FREE consultation on your claim.
Why Are Business Loss Insurance Claims Denied?
As a small business, the reason you buy insurance is to protect your business in the event of a financial disaster that can ruin your life’s work. When disaster strikes, you rely upon the insurance that you purchased to protect your investment. If your insurance claim is denied, the insurance company is required to provide an explanation. But, often the reason provided for the claim denial is inaccurate or illegal. When that happens, you need to seek counsel to protect yourself. Call Saxton Law Firm.
Here is a look at the five primary reasons why your business loss insurance claim may be denied:
- Underinsured – When you purchase an insurance policy for your business, it is important to have a policy that will cover everything your business entails. When your policy does not cover specific elements of the business, it may be grounds for a denied claim.
- Delayed Claim – When your business faces a serious loss, your insurance policy may impose certain timelines. It’s important to file a business loss claim in as soon as possible. However, if your claim is being denied based on a delay in reporting the claim, call Saxton Law Firm, we can help.
- Out-of-Date Information – All businesses grow and so has yours. It’s important to keep your insurance policy updated with new information.
- Insufficient Documentation of Damage – In the event that your business suffers a loss, it is important to photograph, record, and document any and all damages to your business property, equipment, or inventory. Sub-standard documentation may result in a denied claim.
- Non-Compliance with Insurance Conditions – Every insurance policy has conditions and requirements about how to report a loss, how long you have to report a loss, how you value the loss, and more. If you are found non-compliant with these conditions, your claim may be denied by your insurance carrier.
What Should You Do When Your Business Loss Claim is Denied?
The purpose of business insurance is to sustain your cash flow and operations so your business can recover. Unfortunately, too often, insurance companies will deny your claim based on a technicality or in violation of the law. When your business loss insurance claim is denied, it can destroy your life’s work. However, a denied claim does not mean the end of your business. We can help.
Saxton Law Firm can help you dispute the denied claim and file a lawsuit to confront the insurance company. We will help you navigate the legal process and explore your legal options along the way with a FREE consultation.
Contact the Saxton Law Firm today for more information.