When a covered loss stops your operation, the repair bill is only part of the story. The income the business would have earned, the rents you can no longer collect, and the extra expense of running from a temporary location are all recoverable under most commercial policies. Rapid Public Adjusters, Inc. prepares business income and loss of rents claims for owners throughout Florida.
Business income coverage, sometimes called business interruption coverage, is proved with records rather than with visible damage: profit and loss statements, payroll, tax returns, lease schedules, and the period of restoration your policy defines. Quick action and a review of your policies by a professional public claims adjuster is imperative, because the loss you can document is the loss the carrier will consider.
For damage to the building itself, our Commercial Property Claims page is the main commercial claim page. Income loss usually follows a physical loss such as a fire damage claim, and the two are prepared side by side.
The Process
Commercial policies tend to be more delicate and difficult to navigate, making it imperative that you have an expert to ensure you don't lose coverage due to a misstep in the process. When you hire Rapid Public Adjusters, we will document the interruption to your operation and work with the insurance company on your behalf, freeing you from a potentially overwhelming process. From the time you contact us, our process will be as follows:
- Initial assessment: We meet with you to document the physical loss and the days your operation was interrupted. We also review your insurance policies so we pursue every loss of income, loss of rents, and extra expense coverage you are entitled to.
- Expert assessment: We work with accountants, engineers, and other specialists, and include their findings in the documentation of lost income and extra expense.
- Claims process: Once the assessment is complete, we will assemble the documentation, prepare the claim, and file it with the insurance company. We will work with the insurance company on your behalf and present the full value of the loss you are entitled to.
Tips for Working with a Public Insurance Adjuster
When you call in a public adjuster, it's important to be prepared for your first meeting. Here are a few tips to help everything go smoothly.
- Due to the nature of the damage, most of the time it's important to work as fast as possible to mitigate the damage and prevent any further damage. Call an expert such as Rapid Public Adjusters as soon as possible to get the ball rolling.
- Before your first meeting with your public adjuster, be sure to locate and bring with you a copy of your commercial policy, along with recent profit and loss statements, payroll records, and any lease schedules.
- Have ready any other documentation that will help in the assessment of loss, such as any steps you have already taken to mitigate the damage.
Contact Rapid Public Adjusters today for immediate action, expert handling of your claim, and an advocate you can trust in the claims process.