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Nationwide put out a marketing article on the PR News wire recently (article), talking about a recent study of business owners and insurance. In the article they bring up some good facts and want to make sure policy covers your needs-Now if we could only get them to “be on your side” when it is time to pay a rightfully owed claim (Past Articles).
Key takeaways:
- 40% of Businesses fail to reopen following a disaster
- 36% of commercial property stakeholders and agents have experienced natural disaster damage in the past 5 years
- 59% of commercial property stakeholders and agents have experienced natural disaster damage in the past 5 years in hurricane prone states
- 49% said it took four to six months to recover (don’t know what they define as recover)
- 49% said cost was between $20,000 to $50,000 (don’t know if that was just building damage)
An example of this would be you have a coin flip if your business has been impacted (remember majority have in the past five years) of taking longer than 6 months and costing more than $50,000.
No matter who your insurance carrier is, review it and make sure it covers everything. Here are more types of insurance for your business (link).
Just because you have the proper coverage, doesn’t mean the company will pay. This is where the Voss Law Firm is here for you. We are your partners against underpaid, delayed or denied insurance claims.
At the Voss Law Firm we strive to help you get back to normal as fast as possible after an insurance denial or “low ball” offer, even if the insurance company is delaying.
If you feel you have been unfairly treated by your insurance company, please call (888) 296-1986, input your information for a Free Claim Review or chat with us today.
